S&P 500 futures have broken the shoulder and are off over 20 points from the day-session open highs but it seems that CMI's cut has spurred derisking reality in many industrials and that has knocked into everything else. WTI has plunged back under $84 and the 10Y Treasury yield just broke back under 1.50% for the first time in a month - heading close to record-lows. Equities remain at least 70pts or so rich to where Treasuries trade for now (short-term) and considerably more longer-term.
WTI less than $84 again...
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and 10Y Yield below 1.50% again...
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and it seems that oil has recoupled with Treasuries' view of the world for now...
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