The selling materialized in a meaningful way soon after the last post, we dropped right off a cliff to the 99-18-99-21 support range which is more or less unchanged on the day.

The drop comes on the heels of breaking news regarding a statement by Neel Kashkari.

more to follow... Almost any lender that priced already will reprice for the worse, but still too early in the morning to rule out a rebound. sprinkle on some risk... Season to taste...