Bonds Bid, USD Offered, And Stocks Just Don’t Care

Bonds Bid, USD Offered, And Stocks Just Don’t Care

Apple is down over 5% – no worries. The 10Y auction was very well bid and rates are surging lower – sounds good. The USD is collapsing – well that’s great news. And sure enough stocks are up for the 7th day in a row (even as Oil rises – not falls – following Obama’s ‘pause’). We are sure it all makes sense somewhere – even as JPY carry is unwinding… for now it seems VIX is the lever being used to crank on stocks.

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