Lots of doom and gloom in the newspapers

Going through the financial newspapers this morning, its almost impossible to find an article which isn’t all doom and gloom. It’s Friday, I don’t think we need to read all that depressing stuff before the weekend.

Stockmarkets aren’t really bouncing so far, lower by around 2.5% on average with the exception of Korea which is -4.5%.

Gold is trading just below record highs and the risk trades in the FX market are still heavy with AUD and NZD crosses still looking the most vulnerable.