Archived IMT (2010.04.16)

RISK AVERSION slams commodities as Goldman Sachs drops 10% following the U.S. Securities and Exchange Commission's announcement to charge Goldman Sachs with Fraud in structuring and marketing of collateralized debt obligation tied to subprime mortgages; defrauding investors by misstating and omitting key facts about a financial product tied to subprime mortgages as the U.S. housing market was beginning to falter. The ECB's Jurgen Stark's position against aid for Greece and broad decline in all of the Univ of Michigan's consumer sentiment 5 components deepens the sell-off in commodities, which we warned about through our analysis (these past 6 days) of the CRB's inability to breach above 280. EURUSD nears $1.3460 target, USDCAD subsequent target tands at 1.0220 but oil real suport now stands at $80. Those long USDCAD could look into hedging with shorting AUDCAD.