JPY Buying Ushers Selling The News

Tyler Durden's picture

As we predicted yesterday, the knee jerk bounce in the second Greek bailout was already largely priced in. And now: heeeeeere's selling the news, led by a USDJPY carry unwind first, and soon spreading to other risk metrics.

USDJPY:

RISK-ES, where ES is curiously overtaking the RISK basket to the downside.