New York Session - July 8, 2009 4:54 PM

Some NY session deja-vu as risk aversion was once again back in full force. Concerns about global growth were apparent as China ostensibly canceled a large order of coal from a major trading partner. Equity marts managed to crawl back to respectable levels but were extremely heavy throughout the span and this weighed on so-called risky currencies. Traders flocked to the yen for no other reason than to unwind carry trades on the back of the selloff in shares. Full text »