Hard Asset Beats Paper In Early Trade

Tyler Durden's picture

UPDATE: ES tumbling (down 12 from opening highs)

In early trading the USD is being sold in favor of the Euro and real assets such as Oil (Middle-East tensions) and Gold are bid. Stocks are tailing lower - stable at around unchanged for now - but following the slow risk-off leak of Treasury yields. Volume is what you would expect on Boxing Day but EURUSD wins the craziest market of the day award for behaving like a gap-heavy penny stock when its the largest currency pair in the world... though USDJPY is starting to push higher (JPY weaker). In stocks, AAPL -1.5% and HLF +6%.

Real Assets over paper...

 

and FX markets are getting a little jiggy...

 

As ES cracks through the post-crash lows...