ES-AUDJPY "Swiss Watch" Recoupling Means Money In The Bank For Divergence Chasers

Last night we said: "So for any insomniac traders with a taste for virtually risk free arbitrage, here is your opportunity to take advantage of one of those ultra rare occasions where the ES is actually cheap to the AUDJPY - buy spoos, and sell carry, for a roughly 6 point indexed spread convergence." The spread is now closed, and recoupling 20 out of 20 is in the books. For those who took on the minimal risk (and hopefully leveraged 1,000,000 times, just like Merrill's prop desk in the days of yore), congratulations on this "guaranteed" profit.