Today some very signficant moves aross asset-classes – despite the apparent close-to-close ‘blahness’ of stocks (Dow, S&P, Trannies small red, Nasdaq green) and bonds (30Y unch, 5Y +2bps) from Friday’s close. The USD surged to fresh 15-month highs, ripping another 0.6% higher as GBP, EUR (1.28xx), and JPY (106.xx) all faded dramatically. US equity markets entirely decoupled from JPY (in fact became negatively correlated) and US Treasury yields ripped higher – tick for tick with USDJPY’s rise.