EURJPY Ignites Stock Surge On Obama Sanctions (Bonds & Bullion Shrug)

EURJPY Ignites Stock Surge On Obama Sanctions (Bonds & Bullion Shrug)

US equity markets are jubilant at the decision by President Obama to apply travel sanctions against numerous Russian citizens and entities (though we – like every other rational investor out there – are confused as to why this would be). The simple reason is a surge in the EUR (repatriation on this move by Obama) which jerked EURJPY dramatically higher and thus – smashed S&P 500 futures up over 12 points (on negligible volume)… Bonds and gold have hardly moved on this decision…

EURJPY rules stocks…

and nothng else cares…

Charts: Bloomberg

Your rating: None

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