Mission Accomplished
From 2:45 pm
Must push EURJPY to at least 139 to preserve the wealth effect
— zerohedge (@zerohedge) December 4, 2013
Then from 3:33 pm
10 pips K-Hen. You can do it
— zerohedge (@zerohedge) December 4, 2013
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
ES is now just a high beta EURJPY http://t.co/CDR0RDpmpV
— zerohedge (@zerohedge) December 4, 2013
Thanks K-Hen, and Ben-B!
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/nSHiUogNGZ4/story01.htm Tyler Durden