Overnight saw the weakness in the crude complex continue with WTI dumping to its lowest since October 2011 at $75.84. Treasury yields tracked crude lower and 30Y yields are now down 4bps on the week (having been up 5bps at their peak yesterday before Saudi Arabia’s pricing decision). Stocks are sliding in the pre-market but have room to fall to catch down to oil/bonds implied weakness. Gold, silver, and copper are also lower even as the dollar slides lower.
Stocks catching down to Bonds/Oil weakness
Don’t forget oil’s plunge is as much lack of demand as over-supply by desperate oil producers
As Futures tried to scramble back to unch from Saudi news overnight but failed
Chart: Bloomberg
via Zero Hedge http://ift.tt/1xXvaqP Tyler Durden