Looking at a fourth day of gains led by japan. This move from the boj is continuing to drive the yens value. And euroyen are back to levels from last christmas. Another group benefiting from this introduction of a tax on excess reserves in japan is yields at the moment. If you thought they could not get any lower, think again. Watching warnings of impending collapse in the debt market. 12 percent. There were a long list of profit warnings out of chinese companies. It underscores a need for more policy action and explains why, despite the rally we are seeing across the equities space, we are seeing pressure on cyclical commodities. Oil is on the way down. Copper is also on the way down. Before i go, does this rally have legs . The dow jones all turned lower this morning, so maybe not. Whereone of those days you look at that and strip out everything out. Chinas manufacturing figures securing signaling growth may be losing stream. It is a record streak and deterioration. Man has been taki