Risk-correlated trades fell hard yesterday as worries over the US economy reverberated through the market’s psyche. The core driver was the collapse of existing home sales which fell to a startling -27.2% and the June figure was revised down to -7.1%. US 10 yr yields broke the critical 2.50% level, while the 2 yr yields traded to new, all- time lows. Chicago Fed President Evans lamented the US... ...More...


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