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The sorts of things that happen when algorithms rule the market and assets trade with a...

The sorts of things that happen when algorithms rule the market and assets trade with a correlation of 1: The euro dove nearly 80 pips in minutes about 5 hours ago, with the most convincing reason being Bloomberg mistakenly posting Spain's January 2024 bond as the nation's benchmark (rather than the Jan. 2022). The resultant 40 basis pop in yields forced sell orders in the euro (which has retraced much of the loss).
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