Buy Stocks, Buy Bonds, Buy Gold, Buy VIX
From Europe's close (and end of POMO) yesterday, US equities went into hyperventilate mode as the rest of risk-assets were decidedly unimpressed. This morning, gold has snapped higher (along with other commodities as the USD deteriorates) to catch up to stocks on the week while Treasury yields continue to slide in a more risk-off manner - or did the dismal data overnight drive expectations for moar QE and buying gold, buying bonds, and buying 'protected' stocks is the order of the day? Once again it appears the equity indices (and in that way the entire US equity market of thousands of stocks) are driven by dips and rips in EUR and JPY.
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