Algos Ramp Risk At 10:15 Daily POMO Time... Even Though There Is No POMO

Tyler Durden's picture

The machines have learned well that 1015ET is buying time... Why, you ask? Well, it's POMO time - when the Fed hands out its fully fungible, rehypothecatable, infinitely leveragable free-money and risk assets pop... apart from today, there is no POMO... USDJPY 102 was all that mattered - no excuses. At least the currency manipulation crack down has fully rooted out all the front-running, options-strike-searching behavior...

 

 

and then a few minutes later... doh...