Like A Swiss Watch The Daily Risk Spread Divergence Is Here, On Less Than Vapor Volume

Tyler Durden's picture

As of 30 minutes ago, the ramp in stocks which came out of nowehere, on now news, but is certainly going to generate a whole lot of FRBNY trade tickets over at Citadel, has managed to do absolutely nothing to restore confidence in the average man that the economy is not heading into redepression, but been very successful at causing the risk spread to surge to day wides. Historically the spread has closed promptly on high correlation days, although today's market action is so abnormally surreal it may be best to just step back and observe.

In the meantime, looking at volume... what volume. Not even vapors are forcing this stock surge into the stratospehere. But yes, manipulation is an overused word so no point in invoking it.