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The reversal in US equities yesterday set the stage for today's losses. All the Asia-Pacific bourses fell today but Australia. For the week, the regional index is off more than 2%. Europe's Dow Jones Stoxx 600 was flat for the week coming into today's sessions. It is off around 0.5% in late morning activity. US shares are firmer, while the S&P 500 is 2.7% through yesterday. It fell by about 3% last week. Core bond yields are a little lower, and after a rocky start, peripheral European yields have softened. It is not simply