The long end of the yield curve continues to rise as the markets crash indicating rising credit concerns while credit spreads widen indicating credit stress.
The US Fed panics and pumps trillions into the repo market all to no avail as the markets finish on or close,close to their lows.
Interestingly they remain positively divergent.It doesn't matter until it does,and it will, probably next week.
But by the look of it,it ain't over and more pain is on the way as the central banks freak out and panic about the gargantuan mess they have created.
Another wild day awaits.
FMG Technical Analysis, page-5172
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