Overview: Risk-appetites appear to have stabilized for the moment. Most equity markets are higher. Japan and Malaysia were exceptions, but the MSCI Asia Pacific Index rose for the first time this week. In Europe, the Dow Jones Stoxx 600 is recouping about a third of yesterday's loss. The S&P 500 gapped lower yesterday, and although US shares are firmer, that gap (~2785.5=2820.4) is the key to the near-term outlook, Core yields are a little higher, and the US 10-year is around 58 bp. Italian bonds are little changed, but Spanish and Portuguese yields are more