$IRX Weekly

Stockcharts.com treasury bill interest rates, or the discount rate descends to 0.03%, but does not support negative nominal rates. You can see over time how short term interest rates remained supported above zero at crucial times.

Precious metals options expiry should be a very interesting time, since that price future is so in doubt.

While the International Derivatives Assocation takes exception to every price move contrary to expectation, something has to give. Stock markets are only allowed to go up and not reverse. Either bond markets sell off disastrously, or currencies collapse, or that suddenly there is so much supply of commodities, that prices cannot be sustained, or that they run away. The displacement in the system is very hard to pick out.

In order that underlying derivatives contracts remain solvent, there has to be very widespread price fixing to make all the math work. (Canadian markets are all about the housing bubble.)

The one commodity that I can imagine will require a re-rating under the circumstances would be gold prices. Certainly short selling gold and being biased to the short side has been a losing bet for over a decade.

The crowd is also short the miners.

http://scharts.co/1gfAb4h

-F6