News recap for Monday, Oct 3rd

Today was an exciting day for global markets.  Below you’ll find a recap of today’s most important news.  We are not anywhere near out of the woods, yet.  In fact I think equity markets are bound to get much worse.

Global equity markets are tumbling:

http://www.bloomberg.com/news/2011-10-03/asia-stocks-drop-as-euro-weakens-before-meeting.html

Banks are getting hit the hardest:

http://www.zerohedge.com/news/final-countdown\

Many EU banks have serious liquidity problems:

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2011/09/Euro%20Bank%20Liquidity.png

The yield curve is flattening, which usually happens before it inverts, signaling a potentially deep recession:

http://www.zerohedge.com/news/curve-flattening-credit-never-good-sign

Protests in NYC are spreading:

http://online.wsj.com/article/SB10001424052970204612504576608730855935832.html?mod=WSJ_hp_MIDDLENexttoWhatsNewsSecond

And more protests are being planned:

http://www.theglobeandmail.com/news/world/americas/activists-throughout-canada-set-to-show-solidarity-with-wall-street-protesters/article2188341/

I’ll have more posted as I digest and research the events that are transpiring in global markets.

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