Dealers are reporting some early action with gold, Treasuries, yen and Swiss all bid. Retail starts on the back foot with Bed Bath & Beyond (BBBY) stock off 13% while FedEx (FDX) numbers take a toll on shares. In Europe it’s mixed with the Dax off small and Fins under pressure as the EU expands supervision of banks and insurers. Spain is getting belted as Catalan ministers are arrested, and the FTSE is rising small despite a jump in sterling as strong retail sales boost discretionaries.

In Asia, the Nikkei is up despite Sony taking a hit on multiple downgrades, the Hang Seng and Shanghai are both up on electric carmakers, the Kospi was down and the Aussie lost small.

US 10Y yields are off small as stops send it below the 100-day moving average, while the odds for a rate hike in December are now at 58% after being in the 30s last week. The dollar is again under pressure as sterling leads higher and the euro busts upside of $1.20. The kiwi dollar is at a six-week high. The Renminbi is weaker again, down 2% in two weeks.

Ore lost 1%, bringing four-day losses to 10% and two-month lows, but other metals are acting well led by nickel. WTI rose 1.2% into expiriy as API showed a lower build than expected and Hurricane Maria makes landfall in Puerto Rico. Natural gas is consolidating but holding north of the 200-day moving average.

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