Global Stocks and Bonds Wobble Into the Week

It’s a bit of a fire sale

Highlights

• Interest rates, credit availability, and an eroding job market outlook cloud consumer sentiment and expectations 

• Cooler heads have prevailed as market-based Fed rate hike odds sink back to where they were pre-CPI report… and below levels from a few weeks ago 

• Equity market indices are under pressure, hitting stiff resistance at key trendlines, while market breadth remains weak 

• The three big banks to report earnings so far may have posted a surprise across top and bottom lines, but the landscape for smaller regional players is not as rosy