Crazy morning in Europe with VGA undercut our 2300 morning level with 100 points, S&P futures limit down and rumours of anything for no opening of NYSE to coordinated ratecuts and financial markets closeed next week.
Bunds are still strugling with the thin air even with stocks under heavy pressure
B ut credit markets under serious pressure
Danish swap rates continues to hurt. EU30 swaps not outperforming anymore.
Closed all positions during the morning session, only 117/118 bund strangle for today. But still negative stocks and bullish bunds (sub 2000 vga and 119 bunds), but looking for (hopefully) better levels
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