It's gonna be a bloodbath in the equity markets tomorrow (Monday), by good guesstimations.
- Chineese Authorities raised rates to record level.
- Banks are warning about "next shoe", which may include leveraged loans (a.k.a. buyout debt).
- Trade may be thin because of the Holiday, potentially increasing volatility.
One positive note: OPEC is trying to massage the price of oil, against the backdrop of a week during which technical factors are looking to make a try at topping $100/bbl. Also: The press seem to be downplaying Bush's comments on Friday about Iran that appear to put National Security ahead of economic worries related to oil prices, etc.
