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The bleeding has stopped for now (or at least slowed)

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Keep a close eye on yields

The panic selling in risk trades has subsided for the moment but that’s with the S&P 500 down 85 points.

The spot I’m watching right now is 10-year rates. They hit 1.1750% a few hours ago and are back to within striking distance of that again. The unthinkable is that we get back to 1.0%.

For the intraday though, keep an eye on the lows here and the possibility of an intraday bottom:

Keep a close eye on yields

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