The poor eurozone PMI underscores likely recession and weighs on the single currency, which was sold to a new 20-year low. Rather than a "Turn Around Tuesday" a broadly consolidative session is unfolding. Asian and European equities are weaker, while US futures are positive but little changed. Benchmark 10-year bond yield are mostly firmer and the premium offered by Europe's periphery is edging higher. The US 10-year is little changed near 3.02%. Most non-European major currencies are firmer, with the exception of the Australian dollar. The euro struggles to sustain even the most modest of upticks. Emerging market ... (full story)