FAST FIVE: Stocks Start Slide Back To Bond Market Reality As Quad-Witch Looms
Seemed appropriate: Dismal China data overnight did not help the fact that China's 'National Team' appears to have abandoned investors.
S&P futures show a series of lower lows and lower highs today.
Treasury yields were largely unchanged across the curve once again today, but we do note the long-end saw some notable underperformance.
The market is pricing in 14.5bps of rate-cuts in 2019 – the most dovish since the crash at the start of the year.
WTI managed more gains today, after an early dip, but traded in a very tight range around $58.50 for much of the afternoon.