Summary

• U.S. 10-year yield in on slowdown worries
• Probability of Fed move in December drops 10 points to around 65 percent
• Corporate credit spreads blew out big time.   Watch this space
• Equity markets are rudderless and feel like they want to go lower
• Natural gas futures are a joke.  Massive squeeze, up over 40 percent in Q4

Commentary:   Watch credit spreads.  Take a look at country ETFs.  It has been a terrible year for financial assets translated into dollars.

Vulgar looking S&P Chart