- Source, Zero Hedge, read more here.
Thursday, January 15, 2015
Bad News Is Bad News, Stocks & Bond Yields Tumble After Data Triple Whammy
Well this is not supposed to happen. 2015 appears to have started with the "bad news is bad news" meme engaged as the standard USDJPY-driven opening ramp has collapsed on the back of a triple whammy of terrible data (US PMI, Construction Spending, and ISM). The Santa Rally (theoretically due to finish at the close on Monday) is in danger of not being a no-brainer... Treasury yields are plunging (10Y -6.5
bps at 2.10%) Stocks only hope now is a 120.00 bounce in USDJPY....