The blahs seem to have taken firm hold of the industrial metals, with yesterday being a day of little change, just like Monday.

It may be that the credit crunch has not arrived yet, according to Financial Times blog FT Alphaville.

Alphaville has dug up a chart showing average daily volume of cash and securities transfers across Fedwire, the real-time gross settlement system operated by the Fed for transfers between commercial banks and other major financial institutions in the US.