Good evening, It was a bloodbath on the ASX on Monday with $137 billion wiped off the bourse as 183 stocks hit 12-month lows - or lower - in a single day. Traders couldn't even turn to their normal get out of jail free card during tough times, with the fast-money Hong Kong arbitrage funds not wanting to buy in even with big potential returns on offer. Shares in takeover targets Caltex, Village Roadshow and Healius all fell, and although they now offer returns of as much as 30 per cent based on where the takeover bids sit the arb funds aren't biting. Traders couldn't catch their breath amid the rout in equities, and when the market finally closed it was a case of going from one crisis to another. That's because sitting in the inboxes of operatives at UBS, JPMorgan, Bank of America and Goldman Sachs were missives from the top brass telling them that their split-team plans had been activated. From Wednesday this week, about 60 UBS staff won't head in to work in Sydney's CBD. Instead, they'll be based out of the Swiss giant's back-up office north of the Harbour Bridge. We've got all the details on what each bank is doing. In other news, the sale of Downer Group's Spotless laundries has hit its final spin cycle , while ethical superannuation fund Future Super has iced its capital raising plans. Happy reading, Sarah, Anthony and Tim. | 
