Early Update

11:08 a.m. ET Most of the averages have narrowed their pre-market losses as the 10-year yield went from +5bp to +3 bp (@ 3%). The NASDAQ-100 has gone slightly green as mega-cap stocks (MGK 0%) outperform the equal weight S&P (-0.7%). Dow Transports are noticeably weak. SP-500 -0.4%, Dow -0.45% (Transports -2.8%), NASDAQ-100 0%, Small…