Does This Look To You Like The Weak-Dollar-Correlation Trade Is Dead?

There’s some talk today that the weak-dollar/long-stocks trade is off for the moment.

But that only makes sense if you just woke up, and are looking at things as though the market starts at 9:30 AM, which is officially hilarious in this day and age.

Perhaps these two charts will disabuse you of that:

First, S&P futures overnight. Note the big jump around 3.

chart

And now, the dollar over night. Note the beginning of the drop right around the same time.

chart

The dollar-correlation trade. It’s on!

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