“Dead Bat Bounce” Dies – Dow Futs Down Over 500 Pts, Treasury Yields Are Tumbling

Well that re-escalated quickly…

A disappointing lack of detail -despite promises of unlimited spending – appears to have upset the market’s vibe from a day of panic-buying to very technical level of resistance.

Dow futures are now down 550 points…

And 10Y Treasury yields are down 12bps…

Is anyone really surprised?