Nothing to see here little froggies. The yen is higher by 1.4% and crude is down again, now at 3 month lows. But markets have barely budged, as bulls beg for a reason to get long.
The spike in the yen, a traditional risk off asset, is the largest increase since the BREXIT vote, when the world was ending.
Crude oil is lower, now at 3 month lows.
In order to catch up, crude stocks need to fall by another 7%.
Look, we’re a whisper away from record highs. All of the hatred for the market stems from the fact that it is rigged, sort of like the elections, but indelibly worse.
The pin action in both yen and crude is reason enough to sit up and pay attention.
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