Money on the sidelines? EM fixed? Expectations of a terrible jobs number tapering the taper? One thing we do know for absolute certain - this ramp in stocks has nothing whatsoever to do with fun-durr-mentals... as USDJPY 102 takes the S&P back to unch on the Taper and above its 100DMA.
USDJPY 102.000 Tagged...
[4]
It seems the so-called "market" liked the guilty verdict on Martoma?
Though we suspect the machines are desparate to get the S&P back to unchanged from the taper...
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and above the 100DMA...
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Charts: Bloomberg