The algos could have a problem getting out of this one. From Mrs.Watanabe (JPY -170pips, NKY -500 points from highs) getting hammered (and the Hang Seng -5%) to European sovereign bond spreads exploding (Portugal +170bps - biggest spike in 2 years to 8 month highs) and financial stocks collapsing (-4%), safe-havens are heavily bid from gold and silver (+3% from lows) to US Treasuries (10Y dropped 8bps) and global equity markets are taking it on the chin. Not pretty...
Just as Mrs. Watanabe was getting back in the water...
[7]
and hopes of China doing well slayed...
[8]
Europe is a bloodbath - especially bonds...
[9]
with Portuguese bond spreads blown out...
[10]
and European financials are getting crushed...(catching down to credit)
[11]
and safe havens are bid...
[12]
and Treasuries and US equities are back to their anti-correlated selves...
[13]
and Crude continues to surge... implying $4 gas prices coming soon...
[14]
Charts: Bloomberg