As I’m sure you will have seen, international markets have taken a fall in all areas overnight. The ASX yesterday lost around 31 billion off stock values with today shaping up to be every bit as bad, if not worse. The ridiculous thing is that people are pulling out of riskier assets and dumping their money into USD Bonds as they are “considered” to be a safer investment when markets are unstable.
When we issued prices on Tuesday, LME was at USD 8415. The market is currently trading at USD7653, a fall of around 10% in only 4 days.