If bad news is good news; then devastating earthquakes are awesome… Copper prices popped and dropped on the new of the Chile quake (as it is near a mining region) but it is the price action in JPY (and therefore implicitly US equities) that is just farcical – and no, there’s no news, no China stimulus, no Japan stimulus, no data… just this utter insanity…
Makes perfect fun-durr-mental sense…
And copper has retraced its gains…
Following reassurances:
- *TECK SAYS QUEBRADA BLANCA COPPER MINE UNAFFECTED BY QUAKE
- *PAN PACIFIC SAYS NO DAMAGE AT CASERONES COPPER MINE AFTER QUAKE
Charts: Bloomberg
via Zero Hedge http://ift.tt/1icNrIY Tyler Durden