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Good morning. Key developments attracting attention this early NY morning include: Oil prices down another 3%, easing upward pressure on global government bond yields, including a 3 bps decline in the US 10-year (CNBC charts below); Stan Druckenmiller’s critical WSJ op-ed on US Treasury intervention in the bond market (excerpts below of the most quoted paragraphs); and China’s counter-threat following yesterday’s US warning of secondary sanctions on those facilitating Iranian trade and financial flows (FT report below). #economy #markets @cnbc @wsj @ft #bonds #yields #sanctions #oil #yields