Today’s 30-yr Treasury Auction Is Key As Some Signs of Stress In the Financial System Persist Despite the President’s Policy Pivot

12:20 PM ET *Due to rapidly changing developments, I’m going to let early analysis and subsequent developments stand as a kind of readout on what’s happened since the open. I’ll highlight changes in bold red. In surveying the landscape this morning I can certainly understand how a -2.5 percent S&P decline (now -5.5% after clarification…