While the recovery in the dollar is not significant this morning, and the slide in treasuries has not resulted in higher highs in (an upside breakout) in treasury yields, outside forces have clearly shifted back in favor of the bear camp.
Apparently, China released its manufacturing PMI readings for September overnight which countervailed recent signs of green shoots and a measure of optimism that was associated with the upcoming extended holiday.
Once again, the US Congress "kicked the debt problem down the road" with a continuing resolution pushing the threat into mid-November...[MORE]
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