A Risk Off Monday... Down Goes 10-Year YIELD

Earlier today, Christine Legarde, Head of the IMF announced that the IMF intends on lowering its growth forecasts because of the weakess in the Emerging Markets-- 3.3% "is no longer realistic."

Let's keep in mind, that she warned Fed Head Yellen not to raise rates a few weeks ago.

Lagarde continues to pressure Yellen to avert a rate hike, even one of just 25 bps!

No wonder longer-term rates are under pressure, which is exacerbated today by equity-market weakness and flight to safety into bonds.

Next target zone for YIELD: 2.05% to 2.00%.