Seemed appropos...
"Greece is contained" was the clear message desperately trying to be provided to the masses today as PPTs from all around the world lifted FX (and equities directly in some regions) in an effort to keep the dream alive... It didn't work!
It started in China... and failed...
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Then Europe... and failed... (in stocks)
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With Spain, Portugal, and Italy dumped...
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and bonds...
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Then US... and failed...
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Broken marketss and VIX nado'd...
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FX markets turmoiled but it appears The ECB and BoJ had an 'understanding'...
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Here's how EURJPY was used to ingite carry trade-spewed momos into lifting stocks higher...
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Treasuries well well bid out of the gate as investors sought safety... then sold off into the European close... then yields ripped to the lows of the day...
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Commodities mixed...
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Crude clubbed like a baby seal...
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Some context for Crude today... Carnage!!
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Copper crashed...
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And finally - gold and silver! Makes perfect sense as all hell breaks loose for the precious metals to trot along the flatline ignoring all the noise as if some external factor was crushing the life-giving volatility out of the status-quo-meme-destroying prices...
But apart from all that - Greece is priced in, Greece is contained, and Greece doesn't matter
Charts: Bloomberg
Bonus Chart: How do you say "Deja Vu All Over Again" in Chinese?
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