Once again, US equities have given up the 'great' jobs report gains and are plunging fast with The Dow suffering its worst day in 6 weeks. FX markets are turmoiling (USDJPY <108) and bond yields are collapsing to on-month lows. European and US banks are tumbling as despite Dimon's bottom and the coordinated ease-fest of the world's central banks, investors prefer to sell a multi-trillion dollar opaque hole of derivatives debacle-ness than buy it. As one veteran trader put it, the central banks' plans "are coming apart at the seams."

Good jobs gains gone in stocks...

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Bond yields have plunged to 6-week lows..

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And USDJPY is collapsing...

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As Deutsche heads the same way as Lehman...

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And investors begin to realize that nothing has been fixed and nothing they have been told is true.