Treasuries close today at the low yields of the week (down 11bps) but equities were not going to take any notice of that and pushed to hold green for the week (with the Dow and TRAN outperforming). S&P futures managed to touch the underside of their uptrend once again but not break back into it. Financials and Energy ended the week -0.5% while Discretionary rallied 1.5%. VIX ignored equity's strength and rose around 1.5 vols (with a notable bearish divergence into the close). The Dollar gained 1% on the week against the majors - helped by JPY's rapid sell-off today. This USDJPY shift today was the algo driver for ... (full story)