Bonds Bid, USD Offered, And Stocks Just Don't Care

Apple is down over 5% - no worries. The 10Y auction was very well bid and rates are surging lower - sounds good. The USD is collapsing - well that's great news. And sure enough stocks are up for the 7th day in a row (even as Oil rises - not falls - following Obama's 'pause'). We are sure it all makes sense somewhere - even as JPY carry is unwinding... for now it seems VIX is the lever being used to crank on stocks.