After tagging the stops above 1,800 overnight following the Turkish rate hike, S&P futures have collapsed over 30 points and are hovering back at pre-Taper levels from 6 weeks ago. For now USDJPY 102 is critical support for stocks. 10Y bond yields have slammed lower testing 2.70 and the lowest levels in 2 months.
S&P futures have collapsed over 30 points from overnight highs...
Still think its about fun-durr-mentals...(JPY carry is in charge)