Futures, Yields, Yuan Tumble As GOP Senate Intros China Sanctions Bill

Following an extremely strong 10Y bond auction, and news that Senator Graham and GOP Senators have introduced a bill sanctioning China, US futures and Treasury yields are tumbling.

Yields extending their decline…

Yuan is selling off…

And Stocks are down hard…

The bill is related to China’s treatment of Uighurs but comes on the heels of last night’s details on the Trump admin pulling pension fund investment plans in China (and after China’s apparent retaliatory ban on Aussie beef).