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Stocks Puke Back Overnight Dovish BoJ Gains; Bond Yields & Black Gold Rise
For a few brief hours overnight, everything was awesome again after the BoJ folded like a broken lawnchair, dovishly backing away from any rate-hikes until market stability resumed. USDJPY spiked, equity futures spiked higher, and da bullz jumped in with both hands and feet. All that lasted until the US cash equity market opened and the selling began... was escalated by an ugly 10Y auction, and increasing tensions in Ukraine/Russia and the MidEast. By the close, all the majors were at the lows of the day with Small Caps and Nasdaq the biggest losers (swinging from +2% to -1%)... chart ...with US equities and USDJPY ... (full story)