As "Expected" EURJPY 139.00 Lifts Stocks Into The Green

Mission Accomplished

From 2:45 pm

Then from 3:33 pm

And sure enough, the Lift is complete as Stocks get back to green…


So opening and closing ‘beta’ to EURJPY is skyrocketing… in the last few minutes S&P futures added 16 points for a 50 pip rise in EURJPY… more than double the overnight highly correlated 7 points per 50 pip beta…

In other words, the entire market is now a high beta derivative of a currency pair

Thanks K-Hen, and Ben-B!


via Zero Hedge Tyler Durden

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