After a big rout in the Chinese Stocks markets, global equities are declining. Bond prices are moving higher on the news. Carefully floating is recommended. The Chinese Stock markets head south once again after gaining some ground back in the past week. The Shanghai Composite lost 8.5% overnight, while 1,700 stocks fell to their daily maximum amount of 10%. One reason behind the China decline was the IMF voicing concerns surrounding the recent government intervention in the market. The Shanghai Composite has lost 28% from its June high. Resistance will now become support for the 3.5% Fannie Mae 30-yr coupon, for now. Oil continues to push lower, down 83 cents to $47.33/barrel for West Texas Intermediate (WTI). U.S. dollar Libor 1-moth .18%, 3-month .29%, 6-month .46%, 12-month .80%.