The chingland defaults continue...
http://nws.mx/1icJ2av
USDCNY 5yr chart -
http://www.xe.com/currencycharts/?from=USD}&to=CNY&view=5Y
This one way trade is done and the yuan bulls are about to get a proper haircut on those corporate bonds. 6.20 is fast approaching then 6.30 when pain central becomes hotter...
*** markets hate confessions, confessions = defaults, a debasement event is now a reality just like "Dow 30,000" ***
When all is finished, you'll see blackstone...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!