But at least investors can take some comfort from a calmer bond market
- Eurostoxx -1.1%
- Germany DAX -1.3%
- France CAC 40 -1.2%
- UK FTSE -1.2%
- Spain IBEX -1.5%
This keeps in tune with the drop in US futures, although there is some assurance from the bonds that things may be calming down - suspiciously so.
10-year German bunds are bid right off the bat and down near 4 bps from the open:
As much as the Fed and ECB would not like to be involved and hoping for things to calm itself down, they might be left with little choice but to step in ahead of the weekend.
