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Recession Reality Bites? Sends Stocks, Crude, Bond Yields Lower

It appears this morning's dismal Durable Goods data was the last straw on the camel's back of the 'bad news is goods news' meme. With GDP estimates plunging and numerous economic indicators flashing red, it seems last week's central-bank-inspired exuberance is wearing off as proof that their policies have failed mounts up. 10Y yields are near the crucial 2.00% barrier, Crude tumbled to a $42 handle, and US equities have given up all of the China rate cut gains...