JPY
saw a massive correction today – gaining 3% against the USD – its
biggest single-day gain since May 2010 – dragging all the carry traders
with it. S&P 500 futures volume exploded to its highest
since the rally began in November as it broke its uptrend and slumped 40
points from its intraday highs. VIX’s term structure collapsed
to its flattest in 18 months as spot surged above 19% (no – everyone
wasn’t hedged). The Dow, S&P, and Nasdaq are all red for the month
and even the Trannies are almost unch. Treasuries soared with 10Y ending
-10bps (after being +4bps at its worst of the day). Gold and Silver surged
(with the latter testing near $1600 again) as WTI dropped 1%.
Homebuilders (not helped by lumber’s price collapse) dropped 3.5% but
every sector was ugly today and closed at its lows.Continue Reading at ZeroHedge.com…
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