Dow Off 230 Points; All 30 Components In The Red, 10Y 2,81%!!! China, Japan Sell Most US Paper In Years; Foreign Treasury Holdings At 2013 Lows

Stocks Futures Drop After Higher Yields And Disappointing Earnings From WMT, and CSCO

NEW YORK (MarketWatch) — U.S. stocks fell hard Thursday and borrowing costs spiked after a deluge of economic data and disappointing results from Wal-Mart StoresInc. WMT -2.80% and Cisco Systems IncCSCO -7.25% . “The continued reduction in the pace of firings to the slowest since the fall of 2007 should point the Fed further into the camp of taper sooner rather than later and it’s likely why the 10-year yield touched 2.80%,” said Peter Boockvar, chief market analyst at the Lindsey Group.
http://www.marketwatch.com/story/us-stocks-open-sharply-lower-as-yields-rise-2013-08-15-9913819
http://www.marketwatch.com/story/us-stocks-drop-sharply-as-yields-climb-2013-08-15
Stock market crumble continues: Dow off 230

http://www.businessinsider.com/the-stock-market-is-getting-slammed-this-morning-2013-8

China, Japan Sell Most US Paper In Years; Foreign Treasury Holdings At 2013 Lows
And the bid hits just keep on coming.
While previously we reported the foreigners as an aggregate class sold the most gross US securities ever in the month of June, we also learned that in June the biggest selling came from America’s two largest creditors: China and Japan (excluding the Fed of course, whose P&L losses are now approaching $300 billion in the past 3 months, or would if the Fed marked to anything but unicorns).

In June, the two countries combined sold $42 billion, with each selling over $20 billion: the most in years.

http://www.zerohedge.com/news/2013-08-15/china-japan-sell-most-us-paper-years-foreign-treasury-holdings-2013-lows
Industrial Production Misses For 4th Month In A Row
http://www.zerohedge.com/news/2013-08-15/industrial-production-misses-4th-month-row
10yr yield just touched 2.82% AND RISING AGAIN…
http://www.marketwatch.com/investing/bond/TMUBMUSD10Y?countrycode=BX


Philly Fed Drops Most In 9 Months
From last month’s cycle-leading 19.8 print, Philly Fed printed a disappointing (but rather preduictably cyclical drop to 9.3). The same pattern we have seen in economic data (post QEs) has happened once again for the fourth year in a row as the headline print dropped the most since November 2012. Missing expectations after such a cognitively reassuring pront last month is hard for some take we are sure but under the surface things are even worse as the average workweek sub-index turned negative, new orders dumped, and both current and futures expectations for number of employees collapsed.


http://www.zerohedge.com/news/2013-08-15/philly-fed-drops-most-9-months