China puts a gun to world market’s head

AUD is soft through the morning:

Bonds are bid. Long end yield looks like they may break lower:

XJO is off moderately:

China has put a gun to world market’s head as CNY positively crashes:

Commodities will not be able to withstand it for long as emerging markets get shot to pieces. Dalian is down:

Big miners too. The majors have a new round of double tops. FMG is back at $4.50 support. Falling CNY will kill them:

Big Gas is down modestly:

Big Gold a bit more:

Big Mortgage continues its perverse twist. Even as profits get squeezed by BBSW, falling bond yields bid them up:

Big Realty is weak:

So long as CNY falls you can expect red ink across world markets.