- Retail sales unexpectedly slipped in December, and the NY Fed's manufacturing survey shows business activity in that region tumbling at the fastest pace since the Great Recession.
- Remaining below zero for the sixth straight month, the general business conditions index fell 13 points to -19.4%. New orders plunged a full 17 points to -23.5 and shipments declined 19 points to -14.4. Indexes for the six-month outlook also fell sharply - down 26 points to 9.5, the lowest level since 2009.
- The 10-year Treasury yield is lower by 11 basis points to 1.99% - its first time below 2% in three months, and now off about 30 basis points since the Fed hiked a month ago. TLT +1.5% premarket, TBT -3%
- Also helping Treasurys is what is now a 2%+ decline in major U.S. stock index futures. SPY -2.4% premarket
- ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, LBND, DLBL, TYBS, VUSTX