Some noteworthy material we are reading this morning:

FT - "Swiss banks threaten freeze on US accounts over tax evasion"

Bloomberg - "Bond Anxiety in $1.6 Trillion Treasury Repo Market as Failures Soar"

WSJ - "As Food Prices Rise, Fed Keeps a Watchful Eye"

Advisor Perspectives - "Houston We Could Have a Problem in Government Bonds"

Marketwatch - "Why trading volume is tumbling, explained in 5 charts" 

W trading volume is tumbling, explained in 5 charts

Why trading volume is tumbling, explained in 5 charts