Heads are being scratched as risk trades wobble

What was that?

There was a quick move lower in risk trades at the top of the hour with yields falling, equity futures slumping and the US dollar climbing.

There’s no visible catalyst for the sudden change in sentiment that’s sent S&P 500 futures down 0.7%.

Some are pointing to a Chinese fighter plane making an incursion into Taiwan airspace but that’s probably a stretch. Some of the move in yields has come back so it’s probably flows. We’ll continue to scour the world for headlines.

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