Stocks are up 0.9% in the US, bonds are firmer, up 4 bp to 3.40%…Whatever risk aversion there was early in the day is all but forgotten now.
AUD/USD is nearly 2 cents above its earlier lows while EUR/USD bounced almost 1.5 cents.
I can’t prove it, but I would wager that liquidity was way below normal today with many happy to stay sidelined while the impacts of the quake become more apparent….
