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...
[6]
And copper has retraced its gains...
[7]
Following reassurances:
- *TECK SAYS QUEBRADA BLANCA COPPER MINE UNAFFECTED BY QUAKE
- *PAN PACIFIC SAYS NO DAMAGE AT CASERONES COPPER MINE AFTER QUAKE
Charts: Bloomberg