Interest Rate Roundup

Friday, October 24, 2008

Just when you thought it couldn't get any worse ...

Or just when you thought it was safe to go back in the water ... things get worse. As I stare at my Bloomberg screen here, I see ...

Hong Kong's Hang Seng down 8.3% overnight

Japan's Nikkei 225 down 9.6%

France's CAC 40 down 8.3%

The U.K.'s FTSE 100 down 7.3%

Germany's DAX down 8.3%

Long bond futures up 1 17/32

The Japanese currency soaring by roughly 5 yen against the dollar

The broader Dollar Index up by 104 bps to 86.40

U.S. stock futures locked "limit down" -- meaning they have stopped trading and won't reopen until the regular market opens at 9:30.

Need I go on? It is ugly out there this morning, very ugly.


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