It's not just 'Murica where bonds and stocks are falling together. As German 10Y Yields spike to their highest since September 2015...
... the DAX has just broken down below its key 50-day moving average support level, sliding as much as 1.1%, the lowest since January 3.
The DAX is now up just 1.6% YTD after being up as much as 5.3% a week ago.
The persistent European weakness, a result of rising yields, was just noticed by US algos as well, leading to a sharp move lower in the Dow Jones future, which dropped sharply over 150 points, sliding below 26,000.
And even the exuberant Nasdaq has given up the Friday melt-up gains...
While bond yields are fading modestly as this stock drop accelerates, we note that breakevens have broken key levels and may be spooking stocks...
