AMEX:JNK SPDR BLOOMBERG BARCLAYS HIGH YIELD BOND ETF
Correlation is certainly not causation, but it is striking that upward behaviour of SPX , DXY weighted SPY and JNK correlate with CNY depreciation. It is also striking that JNK and DXY weighted SPX correlate with appreciation of CNY . SPX not. Not yet? Waiting on the usual Sunday night PBOC announcement... Short SPX!