US treasury yields are extending their earlier spike (from UK GDP) with 30Y up 5bps on the day (and the curve steepening). While historical correlation between stocks and bonds has come in a little, it appears risk-parity unwinds are also hitting as US equity markets have dumped at the open also…
Deleveraging across US complex in stocks and bonds…
As the long-end yields push to fresh 5 month highs…
And sure enough – just as we said – oil erased its spike after humans read the Russian headlines…
via http://ift.tt/2fj5vdq Tyler Durden