Yields are totally divergent -they act like a magnet for equities...
The Euro is now out of sync so it's no longer arbitrage, it's likely algos.
Here since the move the Euro is even more out of sync.
Beyond the intraday arbitrage, here's where the Euro really is compared to the SPX..
And HY Credit just turned down, Interesting. I need to pay attention, this may move very fast.
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