A very weird day as the US plays catch up to the rest of the world and takes note of the weaker Chinese data over the last few days. Waller talking about the data last week may need the Fed to tread lightly here but that didn’t stop yields going higher today. There was a sell cyclical ex energy trade and go long tech today as the machines were driving the flow. As we know September can be a weak month but can act better when the market is up over 10% YTD. Some very weird dislocation in the market with the Russell 2k getting crushed, Dollar & Yields higher but also Tech running higher as well.