POWER: 1GW BritNed Power Link Offline Over 2-7 November

A reiteration of the stance from the Iranian security chief via Irib: "General Rezaii: We will not return to the situation before Islamabad.

• "We will force the United States to earn the trust of the Iranian people."
• "If the United States does not comply with the seven conditions set by Iran, neither the Strait of Hormuz will be opened, nor will we engage in negotiations."

• Some big buying off the lows in Bonds and especially the Bobl with 50k lots lifted in the past 10 minutes.
• These could be some short cover or profit taking with no movements in Oil or new headlines.
• USDJPY has drifted some 20 pips on the back of the move in Bonds.

SPX: 7,770.5 (+0.1%); DJIA: 51,824 (-0.1%/-40pts); NDX: 30,736.9 (+0.0%).