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“Rare, ugly & worrying.” That is how Krishna Guha, vice chair at Evercore ISI, described the combination of #market moves today, which saw US govt #bonds sell off & the dollar weaken against a basket of leading currencies, while #stocks sold off sharply. In the last 30 years, he said, there are only 4 other episodes in which the US #dollar index depreciated more than 1.5% with the yield on U.S. 30-year govt debt up more than 0.1% point.