Question Everything?
We've lost "hope," so this must be the "change"?
Source: Investors.com
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Congressional Hearing Pits Bill Ackman And Outgoing Valeant CEO Against Angry Senators
In a few moments, a major showdown will take place in the Senate when on the same table Valeant's outgoing CEO Michael Pearson will sit next to Valeant's most prominent investor Bill Ackman and also the former CFO, Howard Schiller, who the company recently tried to scapegoat for most of the problem that sent the stock price of VRX crashing 85% from its summer 2015 highs.
FOMC Statement Key Take Aways: "Fed Leaves Door Open For June Rate Hike"
The best, and so far most concise assessment of the FOMC statement comes from Stone McCarthy which points out the following:
Key Take-Aways:
Market Reacts To Fed Confusion With Chaotic Stop Hunt: Bonds Beating Stocks, Banks Pump'n'Dump
The kneejerk - USD up, stocks down, bonds down - reaction has faded and with The Fed statement pitching its dovish tent back in domestic concerns while keeping a hawkish eye on global developments. The Long bond is back in the green but it appears machines are busier running oil stops higher and dumping gold.
Oil is insane as it explodes 2% into the NYMEX close...
And once NYMEX closed - bonds now beating stocks
VIX was slammed as the statement hit...
Fed Removes "Global Risk" Alert But Keeps Monitoring "Global Economic And Financial Developments" - Full Statement Redline
Since Yellow-Yellen's March dovefest, stocks have rallied, China has stabilized, and while economic data has been weak in general - jobs and inflation (which is what The Fed claims to care about) have been positive. So how does The Fed make June a live meeting, tilt hawkish, and still protect the narrative of recovery and the sanctity of their equity market (which is all that really matters):