Europe Shrugs Off Harsh Reality On Boehner's Banter

Tyler Durden's picture

Europe was looking a little dark this morning; EURUSD was sliding, sovereign bonds flat-to-wider, and European stocks and credit were at one week lows. Then Speak Boehner opened his mouth and the correlated world of systemic cliff-on / cliff-off jumped to life and saved the day for all asunder. EURUSD remains down on the day as GGBs lose some hope, credit remains an underperformer but the jerk higher in stocks into the close was just remarkable in its idiocy. The equity move looks far out of line to the rest of risk assets for now...

 

Stocks soared on Boehner - as did credit - but the latter remains less excited as is clear...

 

and while EURUSD managed to scoot higher and test stops, it remains lower on the day...

 

and even GGBs got a lift on the idiocy...

 

Charts: Bloomberg