Gold Surges Above $1200 On Heavy Volume As USDJPY, Treasury Yields Tumble

USDJPY has tumbled overnight back below 119.50, dragging stocks (equity futures now at session lows) and Treasury yields with it. But it appears the Gold/Yen trade that is reacting most significantly as a huge volume flushes through futures markets spiking Gold back above $1200...

Yen moved first then Gold reacted to keep the least famous pairs trade alive...

 

As USDJPY drags stocks lower...

 

and stocks catch down to bonds' uneasiness...

 

Chart: Bloomberg