Gold, silver, risk FX ... all puking further

'Puking' is a technical term for getting sold in case you are wondering.

Trump kicked it off:

• Risk trades drop after Trump halts stimulus negotiations
• Trump says Pelosi not negotiating in good faith. Instructs a halt to negotiations

McConnell sticks his foot in too:

• Senate leader McConnell says he agrees with Trump decision to pull out of coronavirus relief talks

I can't see that this is much of a help, even though the report does not make break-ip recommendations its not soothing for tech:

• US House committee releases report on market power abuse by tech giants

Meanwhile, its 5 something pm in NY and 6am in Tokyo .... which leaves NZ and early Australian FX markets the only ones active. This is the worst liquidity of the 24 hours cycle. An indication on this are spreads widening and volumes dropping. When a bid is hit the next one is a more than usual amount lower.