Did something change on Friday?
Coordinated?
We had the WSJ Timiraos piece hit the wires on Friday that changed some of the bearish narrative. Shortly after that we had the BoJ intervene. We won't speculate on whether or not this was a coordinated effort, but the market was not ready for this. The crowd is short equities, short the JPY and a lot of people see yields moving higher. Fed is in black out as of Friday, equities are exiting the buy back black out in a few days and mid terms are coming up. Got upside crash calls?