Two weeks ago, this happened [6]to the world's allegedly most liquid On The Run bond on no news, which subsequently sent the entire market plunging before James Bullard was forced to hint at QE4 and send the market into a short-selling spasm (and a Bank of Japan hyperinflationary Hail Mary) that has since seen it hit record highs.
[7]
Now, the "stability" of the world's (formerly) most liquid market has shifted to what used to be the most liquid FX pair, the EURUSD (as well as the EURJPY), which moments ago, on no new whatsoever - again - imploded, plunging to the weakest level since August 2012, on what appears to have been a massive 1.25 stop hunt.
[8]
One of these days, the V-shaped recovery that every BTFDer has grown to love and expect in every of these broken markets, be it equity, bond or FX, will not come. What happens then is unknown.
