China (and Asia generally) down today … again.
Europe, dreadful bond markets … PIGS related, of course.
But, the US holding up well … check out the TED spread, its not doing much.
Now, the TED spread is not the only measure of financial/liquidity stress, but its a very good one.
Guess we can put off the imminent fallage* of the sky.
*I know ‘fallage’ isn’t a word. Yet.