Equity Futures Spike On Chile Earthquake, USDJPY Momentum Ignition

If bad news is good news; then devastating earthquakes are awesome… Copper prices popped and dropped on the new of the Chile quake (as it is near a mining region) but it is the price action in JPY (and therefore implicitly US equities) that is just farcical – and no, there’s no news, no China stimulus, no Japan stimulus, no data… just this utter insanity…

Makes perfect fun-durr-mental sense…

 

And copper has retraced its gains…

 

Following reassurances:

  • *TECK SAYS QUEBRADA BLANCA COPPER MINE UNAFFECTED BY QUAKE
  • *PAN PACIFIC SAYS NO DAMAGE AT CASERONES COPPER MINE AFTER QUAKE

Charts: Bloomberg

    



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