A very quick look at concerns that are building rapidly.
Europe - Who is in charge?
Russia vs RoW - Slow escalation.
UK - Fracturing political structure.
Middle East - Deja Vu
Hong Kong - Riots with many remembering/frightened of a Tianenmen Square
DM Economies - Rolling over.
Price action :-
High Yield prices yukky.
Small stocks leading the main indices lower.
UK London house prices off.
UK stock shocks increasing (Tesco, Balfour Beatty) - Leveraged expectations being caught out.
Usual EM stress points breaking (watching Turkey).
DM and EM both moving lower (haven’t seen that in a while).
Corporate bond market liquidity a real worry.
IPO launches rapidly going negative.
Commodity prices still falling.
NZD melt down - separate issue but pretty sure John Key knows the background carry concerns so is just helping the NZD on its natural way
European markets opening down despite late NY rally
This is beginning to smell like a typical all round September/October risk dump. So this permagoldbear even thinks he'll buy gold and JPY - and that's saying something!