Just about everything but treasuries and the Dollar are down tonight. This is a run for safety, pure and simple. Even gold is down after a strong run-up over the past few weeks.
Here is a list of some items that are down tonight, including most commodities across the board:
- Stocks - stock indexes are down worldwide, including China, Japan, and Europe. S&P and Dow are pushing on July support levels
- Grains: corn, soybeans, wheat, oats, (all down together)
- Rice (after a powerful rally yesterday, it has reversed)
- Gold
- Crude Oil
- Natural Gas
- Sugar -- longest-running commodity rally is down overnight
- Coffee -- like sugar, a long-running rally that is down tonight
- Cocoa -- already in a downtrend, cocoa is significantly lower
- Live Cattle -- after strong rally throughout the year, prices are lower
- Lean Hog -- had been rallying recently, but selling off now
Deflation is usually the immediate precursor to hyperinflation. Deflation becomes hyperinflation overnight as people seek to flee from the two things that they had considered to be safe havens up until that time - bonds and the Dollar.
