Is that what the 10yr is signalling? The EU doesn't have the mechanism to launch quantitative easing. Raising rates would pressure their recovery. Has Draghi painted himself into a corner?
The U.S. is having to accept the "taper" while slow growth persists. Maybe it's time to get back to reality and fundamentals. Actually that works for me because I'd much rather buy stocks with S&P500 at the 100week than "here". Only time will tell but hedging and shorts are (finally) working.
The 10yr is definitely not happy and is trying to bounce off of 2.6 but if that goes.........look out for more pain (for equities). Seems as though sell in May was a good idea after all.