Well this is not supposed to happen. 2015 appears to have started with the "bad news is bad news" meme engaged as the standard USDJPY-driven opening ramp has collapsed on the back of a triple whammy of terrible data (US PMI, Construction Spending, and ISM). The Santa Rally (theoretically due to finish at the close on Monday) is in danger of not being a no-brainer... Treasury yields are plunging (10Y -6.5bps at 2.10%) Stocks only hope now is a 120.00 bounce in USDJPY.
Stocks not off the lows...
[3]
Thank you USDJPY...
[4]
Stocks only hope now is a 120.00 bounce in USDJPY.
as Bond yields collapse...
[5]
Charts: Bloomberg
