Daily Disconnect (Or Did Cyprus Matter?)

Tyler Durden's picture

With the 10Y Treasury yield trading with a 1.75% handle - its lowest of the year - it would appear that the fallout from Cyprus (storm-in-a-teacup or not) has had a significant impact on cross-asset class correlations. With safe-haven sectors the only bid holding up a fragile US equity market and EURJPY having been discarded by the algos for any pump-and-dump, it appears stocks are on their own now.