Following yesterday's proof-positive that "everything is awesome," today (and overnight) we find, everything is not so awesome. Following the unleashing of The Warsh on CNBC [5], markets are starting to turmoil. Crude has erased all its late-day ramp and then some dropping back to a low $47 handle. German Bund yields just hit a new record low (2Y at -25.7bps!). US equity markets have erased all of yesterday's post-open gains, and US Treasury yields are dumping as the Euro surges...
Crude unwind...
[6]
Stocks unwind...
[7]
EUR pushing higher as US Treasury yields tumble...
[8]
As The Bund curve continues to flatten and go increasingly negative...
[9]
Charts: Bloomberg
