Overnight weakness following The World Bank downgrade, China’s slip-flop on CNY and failed auction, Cantor’s ‘compromise-shattering’ loss, appeared to be stabilized a levitating USDJPY but when the budget deficit hit (as expected) it appears the market was hoping for a bigger deficit (and thus more to monetize and moar QE). Stock are diving lower with Trannies worst along with the Russell 2000 -1%. CNBC is already discussing if this is the pullback to buy for the next leg higher in stocks as money on the sidelines floods in…
via Zero Hedge http://ift.tt/1uYQH1Q Tyler Durden