Stocks & Dollar Plunge After Dismal US Data

US equity markets surged overnight on China and European PMIs but have accelerated losses this morning after US Manufacturing ISM (and construction spending) disappoints.

Dow futures are down over 300 points from overnight highs…

The dollar is also being dumped…

Source: Bloomberg

For now, bonds refuse to move much after their ugly selloff overnight, but the short-end is outperforming…

Source: Bloomberg

Seems like we are going to need a “China deal is close” tweet to save the market.