"Do Not Panic"...
It appears 20 victims is just not enough to warrant a massive short-squeeze like Paris!!
Stocks caught down to bonds' reality...
And some longer-term (post-FOMC) context...
Before the US opened though, China saw massive divergence in performance...
This was the worst day for stocks in 3 weeks with high-flyer Trannies the biggest loser (as crude collapsed)...
Futures show the action a little clearer...
Leaving all major indices (apart from the NASDAQ's late save) in the red on the week...
Stocks decoupled from USDJPY as ADP hit and tumbled with Crude...

Treasury yields were mixed with the long-end flat and short-end higher (the belly was worst with 5Y +4.5bps, 30Y unch, 2Y +3bps)
The USD jumped to 12 year highs after ADP hit but rapdily slipped lower during Crude's collapse, Yellen's speech, and the mass shooting...
Commodities saw a gap down after ADP reported and the USD surged...
This was WTI's worst day in 2 months and lowest close since August 27th...
Charts: Bloomberg










