Remember the JPY carry trade: long the Dollar and short the Yen? That was then. This is now.
Another interesting observation is that the VIX now seems to be tracking currency risk, instead of the market (seems nobody cares about equities any more).
Lastly, bond yields are hitting intraday lows while the stock market is being floored by HAL9000 thinking the sideways VWAP will persist until 3 pm (and is likely correct).
