The post-EU-Summit exuberance has entirely worn off in everything that mattered to the EU-Summit 'bulls' as EURUSD and both Italian and Spanish bond spreads are now back wider than pre-Summit. However, there is one market that remains ignorant of anything aside from algo-driven VWAP reversion and the incessant hope for another round of central bank largesse. Can you guess which one?
EURUSD (yellow), Spain 10Y spread (red), Italy 10Y spread (orange), and S&P 500 e-minis (green)
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Chart: Bloomberg