Markets have been very quiet over the past 24 hours and there has been very little in the way of any noteworthy developments. The two most interesting things going right now in our opinion are the price action in the Yen, and the price action in global equities prices. While most of the time these two markets would be highly correlated and effectively one in the same in terms of understanding the driver behind their respective moves, at present, this is not the case and the two markets have lost their correlations for now. The depreciation in the Yen over the past several sessions has been nothing short of impressive ... (full story)