As banks free fall, funding costs skyrocket

The AUD is soft through the morning:

Bonds are bid again:

No relief today for the ASX but it is hanging on grimly below support:

Big Iron is up on the Chinese slowing Costanza play:

Big Gas is down, down:

Big Gold is hopeful of the Fed:

Three of the major banks are in free fall again on a Bell Potter downgrade. Only CBA is yet to find new lows:

As they plummet, funding costs are going the other way which makes a certain amount of sense if you see the problem as counter-party risk:

Big Realty is mixed but there is no mistaking the trend:

Welcome to another week in the great Australian property bust.