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It has been a very puzzling afternoon...>

EGB SUMMARY
EGB SUMMARY: It has been a very puzzling afternoon session.
-Despite the constant selling in EU Indices, EGB's have also sold of off today.
-Assets decoupled with very little in terms of correlation across assets.|
-Buns are down some 50 ticks on the day, while Treasuries are still trading in
the green, 12 ticks up on the day.
-This has resulted in a rise in B
-Estoxx are down 2.5% on the day, und, BTP and OAT Yields of circa 3bps.
-In the US, Risk off gains momentum -- Tsys making new highs w/equities falling
to new lows
- DJIA down 415.55 points (-1.56%) at 26573.04
- S&P E-Mini Future down 42.5 points (-1.45%) at 2921
- Nasdaq down 115.4 points (-1.5%) at 7908.685.
-We have not seen these type of flow or colour across the EGBs.
- Bund futures are up 0.34 today at 178.65 with BTP futures up 0.68 at 140.83
and OAT futures up 0.24 at 169.98.

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