The unseen message...
Two words: "Policy Error"?
The yield curve is not supposed to collapse when The Fed is pitching higher rates, growthier growth, and fiscal stimulus hype!!
And inflation expectations have gone nowhere since the initial kneejerk and have now fallen since The Fed...
It's all starting to get just a little silly...
Everything is red post-Fed...
Futures show the ramp efforts, fail then ramp again...
Bank stocks (and healthcare) caught a bid but everything else remains red post-Fed...
A Collapsing yield curve seems not to matter to banks...
And someone is buying Goldman stock despite professionals having no interest at all in Goldman credit...
Another Day, Another VIX-STOCKS_PERFECT CORRELATION DAY... Also note Lower-High for Dow...
REMEMBER - Tomorrow is Quad Witch.
Treasury yields were very mixed today with the long-bond well bid and belly dumped to flatten the curve dramatically... 30Y now unch from Fed!
The USD soared once again... (with Yen and Euro weakness)
EURUSD crashes to 2003 lows...
But the peso rallied post-Banxico surprise hike...
While dollar strength hit all commodities... (but copper seemed to hold on, as perhaps Yuan weakness helped a little?)
Pushing WTI below $50...
It was Gold and SIlver that were clubbed like a baby seal...