When the Going Gets Rough, Well, It's Just Rough: Taking Stock

There was nowhere to hide Tuesday coming off the holiday-extended weekend in the U.S., despite what looked to be a relatively benign open. It looks like more of the same today.

I’ll spare you the trade talk, because frankly there were no tangible developments on that front to suggest why the S&P tanked in the last two hours of trading. But treasuries did continue to attract buyers as the session wore on -- perhaps to the delight of recession prognosticators that point to the deepening inversion in some parts of the yield curve as indicative of future recessions. News is bountiful on that front, with a cornucopia of superlatives on offer as a series of industrialized nations saw their respective benchmark yields hit levels not seen in years.