Today's slide deck: https://bit.ly/3tDaVkU   -

Today we break down an ugly day on Wall Street yesterday, one that drives a bit more concern than usual as we see signs of significant cross-market correlations, with action in commodity markets suddenly looking more wobbly. Too early to tell, but we ratchet the level of concern considerably higher on the risk of an acceleration of volatility. We also look at US treasuries failing to provide any offsetting safe haven effect ahead of important auctions, take a peek at upcoming earnings and the macro calendar and more. On today's pod were Peter Garnry on equities, Althea Spinozzi on fixed income, Ole Hansen on commodities, and John J. Hardy hosting and on FX.