As I type (7:40am pt), we're experiencing one of those infrequent, but, alas, inevitable risk-off days where virtually all correlations move to one... Meaning, asset classes and individual securities that tend to complement each other from a risk standpoint -- i.e., tend to not always move in the same direction, or, better said, not move for the same reasons -- are, so far this morning, moving in the same direction (down), for the same reason(s).
