The baltic dry index is the highest it's been in 3 1/2 months (late October). The TED is lower than it's been in more than four months (since early September). Even the VIX, although having risen slightly over the last couple of days, is around the level it was at the end of Sept/early Oct last year.
Energy looks to have bottomed with oil prices retesting the November low last month and bouncing back up. And even base metals are starting to look positive.
Our banks still have to come good - but they are still above their November lows.
So I figure this downward trend won't last forever and the current fall in share prices won't last long.
