Yesterday's late-day weakness in stocks is continuing as US equities open this morning led by a collapse in Dow Transports and further weakness in Russell 2000. Treasury yields are also plunging with 10Y at 2.435% (back below the oh-so-important Tepper "end of the bond bull" levels [4]). High-yield credit markets are extremely volatile this morning. USD weakness is helping commodities rally with gold and silver outperforming. VIX just hit 17.5
Stocks are tanking on the week...
[5]
and bond yields plunging...
[6]
Short-term, it appears stocks are playing catch down to credit once again...
[7]
USD weakness is sparking buying in commodities
[8]
Charts: Bloomberg
