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Turmoiling Markets This Morning

Following yesterday's proof-positive that "everything is awesome," today (and overnight) we find, everything is not so awesome. Following the unleashing of The Warsh on CNBC, markets are starting to turmoil. Crude has erased all its late-day ramp and then some dropping back to a low $47 handle. German Bund yields just hit a new record low (2Y at -25.7bps!). US equity markets have erased all of yesterday's post-open gains, and US Treasury yields are dumping as the Euro surges...

 

Crude unwind...

 

Stocks unwind...

 

EUR pushing higher as US Treasury yields tumble...

 

As The Bund curve continues to flatten and go increasingly negative...

 

Charts: Bloomberg