The market has not flipped the switch to “off” but it is slowly turning down the dimmer…
The S&P has added modestly to losses after the Beige Book, now down 0.6% from about 0.4%. US treasury yields are dipping, back to the 3.00% yield in 10s from 3.06 earlier in the day.
EUR/USD is down to 1.2980 and cable to 1.5585. AUD/USD is not far from the bottom of its range, now at 0.8920.
Gloom and doom prevail…what else is new?
