The 10Y yield has been falling all day along with the market. At this pace, the 10Y yield could break under 5%, which would be great.
The PPI report is going to determine where the market goes from here. It looks like a hot PPI is being priced in with the additional market drop.
So if PPI comes in line, the market could actually see a recovery rebound. If PPI comes in hot, it could repeat the same kind of drop.
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