An inauspicious start | TF Metals report

If you managed to tune in to Friday’s BwT audio, you may have noticed my concern about how this month might play out. I don’t expect a crash or even a significant drop. However, after six consecutive green monthly candles, don’t be surprised if September ends in the red.

And we are off to a rough start. Prices wobbled for a while on Sunday evening, only to recover a bit during yesterday’s global trade. Last night was OK, but I still woke up this morning expecting to see CDG and CDS deep in the red. To my surprise, they were only $3 or 30¢ off. How I…