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Spurious Japan Headline Sparks USDJPY Spike

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It's 2am in Japan and Nikkei has decided - right as the 30Y Treasury auction hits - to unleash a spurious headline - BOJ TO EXPLORE DELVING DEEPER INTO NEGATIVE RATES... Which of course is 'old news' - but don't tell the Algos.


Of course, USD strength after a weak auction is also helping but the timing is simply too coincidental not to be an attempt at manipulation...






For now it's not helping stocks too much...






But that didn't last long - stocks algos quickly jumped on the USDJPY spike on old news...







Continue reading...

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