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EURJPY Ignites Stock Surge On Obama Sanctions (Bonds & Bullion Shrug)

Tyler Durden's picture




 

US equity markets are jubilant at the decision by President Obama to apply travel sanctions against numerous Russian citizens and entities (though we - like every other rational investor out there - are confused as to why this would be). The simple reason is a surge in the EUR (repatriation on this move by Obama) which jerked EURJPY dramatically higher and thus - smashed S&P 500 futures up over 12 points (on negligible volume)... Bonds and gold have hardly moved on this decision...

 

EURJPY rules stocks...

 

and nothng else cares...

 

Charts: Bloomberg

 

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Mon, 03/17/2014 - 10:01 | 4558186 kodachrome
kodachrome's picture

Bitcoin is currently down on this news.

Mon, 03/17/2014 - 10:06 | 4558212 greatbeard
greatbeard's picture

>> Bitcoin

Bit who?

Mon, 03/17/2014 - 10:07 | 4558226 whotookmyalias
whotookmyalias's picture

World is a mess but the market is up  It's all good.

 

/sarc

Mon, 03/17/2014 - 12:27 | 4559058 PRO.223
PRO.223's picture

This isn't a stock surge on Obama's sanctions...it's a relief surge on the lack of meaningful sanctions.

Mon, 03/17/2014 - 10:11 | 4558247 Divided States ...
Divided States of America's picture

Like I said before: S&P = Sucking Parasite

and it is jumping from stronger performing hosts to even stronger performing hosts to climb higher.

First the host JPYUSD, then AUDJPY, then Gold for a week, then back to JPYUSD for a few more weeks and now EURJPY. See a major connection? Its JPY

Japan is a main issue here as the Japanese have allowed their currency to be used to manipulate the markets higher.

No wonder CHina is peeved as fuck and with whats wrong with the CNY lately, it looks like things are starting to rip at the seams.

Mon, 03/17/2014 - 10:06 | 4558213 Super Broccoli
Super Broccoli's picture

Why ? ahah well some ppl and corporations expect retaliation and repatriate money parked in russia and china ;-)

Mon, 03/17/2014 - 10:06 | 4558216 LawsofPhysics
LawsofPhysics's picture

Banzi!!!

Mon, 03/17/2014 - 10:06 | 4558217 Pareto
Pareto's picture

put your short on at 10:30 eastern.

Mon, 03/17/2014 - 10:09 | 4558238 1fortheroad
1fortheroad's picture

Its Fed week.

 

Everybody buys stawks on Fed week.

 

I need a stiff drink.

Mon, 03/17/2014 - 10:10 | 4558240 caShOnlY
caShOnlY's picture

Market is busting a nut!!!  I bet the FED is about to reverse taper course.  Goldman locking in early!! muppets be damned!!

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