Equity Futures Spike On Chile Earthquake, USDJPY Momentum Ignition

Tyler Durden's picture

If bad news is good news; then devastating earthquakes are awesome... Copper prices popped and dropped on the new of the Chile quake (as it is near a mining region) but it is the price action in JPY (and therefore implicitly US equities) that is just farcical - and no, there's no news, no China stimulus, no Japan stimulus, no data... just this utter insanity...

Makes perfect fun-durr-mental sense...

 

And copper has retraced its gains...

 

Following reassurances:

  • *TECK SAYS QUEBRADA BLANCA COPPER MINE UNAFFECTED BY QUAKE
  • *PAN PACIFIC SAYS NO DAMAGE AT CASERONES COPPER MINE AFTER QUAKE

Charts: Bloomberg