I put this chart together this afternoon, but with the futures down tonight, its a good short idea..
Bloomberg -
"June 10 (Bloomberg) -- Asian stocks fell, driving the benchmark index to a two-month low, as widening credit-market losses and the prospect of higher borrowing costs fanned concern earnings will decline.
Macquarie Group Ltd. and Babcock & Brown Ltd. plunged in Sydney after Lehman Brothers Holdings Inc. reported a $2.8 billion loss and Federal Reserve Chairman Ben S. Bernanke said policy makers will ``strongly resist'' inflation. Industrial & Commercial Bank of China Ltd. tumbled after the nation's banks were ordered to increase reserves for the fifth time this year.
``It's going to take several years before the credit problems work themselves through the system,'' said Robert Rountree, Singapore-based director of investment marketing at Prudential Asset Management, which oversees $55 billion of assets in Asia. Markets are reacting to the fear factor of rising interest rates.
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tb
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