The dramatic move in the capital markets continues. The US dollar is soaring as yields and equities slide. The US 10-year yield has fallen below 1.30 to 1.26% European benchmark yields are 1-4 bp lower, while Australia and New Zealand have seen a 7-9 bp drop today. Signals that the PBOC may provide more monetary support helped drive China's 10-year bond yield below 3% for the first time since last August. Those currencies levered for growth, namely the dollar-bloc and the Norwegian krone, are bearing the burden today with a 0.50%-0.75% slide. The Japanese yen and Swiss franc are doing best, while the euro tries to ... (full story)