The continuing strength of the US$ and the IOUSA bond market,...

The continuing strength of the US$ and the IOUSA bond market, with the expectation that the FED may increase rates "one more time" to 6% .. OMG.
So, pressure on markets will continue, and the decline in business confidence will sink to new lows, both domestically and internationally.

But next year is an election year in the IOUSA, and the FED will be under enormous pressure to ease interest rates and not have a devastating market crash ... but this may be too late to save their real estate market, especially commercial, particularly in regional areas where regional banks are on the hook for huge losses .... perhaps worse than 2007/08 ?? Oh and the interest bill on IOUSA government debt now > US$ 1 trillion !!!

The Ukrainian position in the war is desperate, and non mainstream pundits (who've been right all along) are predicting that only a complete unconditional surrender by Ukraine will end the war .... meanwhile high oil prices will continue to impact severely on inflation. Allowing Central Banks to slavishly try to "best inflation" with the blunt instrument of high, relentless high interest rates will succeed only by destroying many lives and business.

The idea that many more people have to be rendered "unemployed" to help the mortgage market and business is obscene.
The reality is present times are similar to a war time economy - during such times, price controls proved essential and saved the day.

40% of mortgagees are about to have a reset to much higher rates ... call it a sealing or a cliff but it going to create much misery, suffering and displacement among very stretched families, while many are living the high life of endless "adventure travel" and conspicuous consumption ..... how many homeless people will it take to "save the economy" ???

The market depth at 8:20 is indicating a lot of buyers at or below 27c for RED, but most gold miners will open lower ... how low these SP will sink over the next weeks and months depends on the relative performance of the A$POG and stock specific variables. If RED's SP support continues, one can assume the rerate is continuing, and perhaps significant new substantial shareholders are taking a position .... GOK.
Note the concordance of RED's March 22 high with the surge in the US$ and A$POG. This would suggest that A$2600 becomes key support ?
But in the longer term, the more the A$POG contracts, the more vital Leonora M&A becomes for the likes of GMD IMHO.
RED's best defence remains the optimisation of KOTH size and efficiency .... build it well and they will come !