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Risk Aversion Forcing Markets today Losses in the overnight Asian equity session have dragged the regional benchmark index to lowest level since November 2006 Overnight News Bullets UK PPI Input, Jun, MoM/YoY out at 2.1%/30.3% vs 2.6%/29.0% exp. Prior 3.9%/28.7% UK PPI Output, Jun, MoM/YoY out at 0.9%/10.0% vs 1.2%/9.9% exp. Prior 1.9%/9.3% UK PPI Output Core, Jun, MoM/YoY out at 0.3%/6.4% vs 0.8%/6.5% exp. Prior 1.4%/6.1% EC Euro-Zone Ind., May, Prod. MoM/YoY out at -1.9%/-0.6% vs -2.3%/0.3% exp. Prior 1.0%/4.0% NZ Food Prices, Jun, out at 1.3% vs 0.3% exp. Prior 1.0% NZ Consumer Prices, 2Q, QoQ/YoY out at 1.6%/4.0% vs 1.4%/3.8% exp. Prior 0.7%/3.4% UK RICS House Price Balance, Jun, out at -88.0% vs -94.0% exp. Prior 92.2% JN Tokyo Condominium Sales, Jun, YoY out at -30.0% vs -17.7% prior. BoJ keeps rates unchanged at 0.5%. Markets FX: AUDUSD trading at all-time highs at 0.9760 while dollar is still offered against euro. Fixed Income: Fixed income higher across the board on continued equity losses. Equities: While S&P500 closed the Monday nearly 1% lower, losses in Asia continued to accelerate with Nikkei shedding off nearly 2% Commodities: Crude oil little-changed in overnight trading around $145. Advances in spot gold so far halted around 973.70, while looking well bid.