.."lol 6% yield? so you think the market is gonna drop by over 50%?"... YES, deflation has this power. But not soon.
It felt like Japs intervened in yen or maybe it just does fall against all 16 currencies by coincidence - hardeeharhar. Plus I have a feeling SP index futures option expiry gets pinned higher this morning. On the other hand - european desks are selling the shit out of this and have since they opened. Plus think about the weekly charts. The damage is just terrible. Dow is down what 600 on the week? Even if we get back 300, it's still a wreck. Both sides have something to argue today. Vicious day coming.
walll street journal confirming the same. http://online.wsj.com/article/SB120066658450000649.html?mod=hpp_us_whats_news&apl=y&r=801285