"Not beating expectations" is the new "killing it" if today's markets are any judge. First, Facebook is up 19% ($150bn market cap). Gold and silver are being monkey-hammered in their new normal "I don't always sell gold, but when I do, I do it all at once in massive size) manner. Bond yields are pressing 3-4bps higher. The USD is surging (as JPY and EUR weakness trumps AUD strength) and that should provide the hint as to what is levitating stocks… JPY carry correlation remains extreme as the USDJPY bounce off 102 holds for now (and NKY is catching up).
Spot The Difference…
The S&P futures have levitated back to Tuesday's closing VWAP…
Gold and silver are slammed as Oil surges…
Nope no over-reaction here…
Nikkei is catching up to USDJPY…
Charts: Bloomberg
Bonus Chart: Thursday Humor…
via Zero Hedge http://ift.tt/Mlb8Vv Tyler Durden