It is unclear what the catalyst is - aside from the bounce back from The FT's rejection of Reuters rumor-spreading about ECB corporate bond buying but instead of the usual morning smackdown, precious metals are spiking higher. Gold hit $1255 - its highest in over 5 weeks). Oil is also spiking higher, WTI just broke above $83 (so much for that consumer tax cut?)
[5]
And oil is spiking too...
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For now its unclear what is driving this BUT we do note that Saudi's Riyal has tumbled notably away from its peg in recent days... weakest since Jan 2009
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Charts: Bloomberg
