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Friday, March 29, 2024

This Is The 12-Days-Old News That Just Spiked USDJPY And Stocks

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Day after day after day this ‘market’ is manipulated and managed by headlines that memory-less machines read and act upon. Today – yet again – at 210am Japan time, Nikkei news decides it is time to print these headlines:

*JAPAN GPIF TO CUT JAPAN DEBT ALLOCATION TO 35%, RAISE DOMESTIC STOCK ALLOCATION TO 25%: NIKKEI

And sure enough JPY explodes instantly in an attempt to spark momentum. This is not news (it’s a constant headline every day since October 18th) as Abe sacrifices his economy and his people’s economic future for an uptick in stocks.

The algos react and lift USDJPY

and of course that means US equities surge…

and this is what happened as the headline hit…

and volume explodes…

The irony in all of this: this is not news, its 12 days old.

But when betting on algo stupidity and their 15 millisecond memory, nobody has lost yet.

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