Its a wonderful day in the financial markets. …. NOT. In fact, financial markets are breaking bad.
Where to begin?
U.S. equities extended a sell-off and the pound tumbled as traders took a grim view of the outlook for global growth and trade after UK Prime Minister Theresa May delayed a crucial Brexit vote.
Meanwhile, the Great Britain Pound got pounded.
And the 5Y – 3Y Treasury curve inverted.
And the US Breakeven 5 Year Inflation Rate is collapsing.
Yes, financial markets are breaking bad.