And the Fed likely wouldn't be the only central bank to back off its rate hike plans if the Zurich-based investment bank does indeed have problems.
It is in the best interests of everyone to see bond markets normalize.
The Fed's insistence on raising interest rates fast and furiously and energy troubles in Europe will combine to put immense pressure on the global economy.
The central bank appears to be inflicting more pain on the economy than is necessary to slow job growth.
Plus, Meta Platforms plans to cut back on staffing levels, and PepsiCo reportedly may do the same.
Wednesday's run for the roses felt like a bear market rally provoked by an external event.
The bear clearly has the upper hand, though that doesn't mean it isn't worth stalking bullish reversals in both asset classes.
Technical analysis becomes difficult when non-market forces come into play.
Treasury yield spreads continue to move if not into a healthy configuration, at least a healthier-looking direction.
We failed to get an oversold bounce and the major headwind continues to be interest rates.