The Fed's apparent new communication policy (as the rest of the world's markets and policy-makers try to force its hand)...
This has never happened before (even with the panic buying)... The S&P 500 is down 6.5% year-to-date - that is officially the worst start to a year ever...
The gaping truth of The Fed policy error is now being exposed in tumbling rate-hike odds... March odds down to 36.8% (from over 55% a week ago)
As Bonds & Bullion dramatically outperform stocks post-FOMC...
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On the day, it was ridiculous - here are futures to show the swings...
And in cash - the panic-buying melt-up faded into the very last few minutes...
Dow screams 200 points higher in minutes... just because...
All Yen all the time... (as stocks decoupled from oil)
It appears Stocks (algos) were playing catch up to the China-selling-based higher Treasury yields...
NOTE: This could have been a disaster for Risk-Parity funds (Bonds and Stocks down hard) - beware the "bullishness" of China selling Treasuries
Before the epic melt-up buying panic, The Nasdaq is down 8 days in a row - has not had one green day in 2016 - this is the longest losing streak since May 2012...
Plenty of momentum stocks have been crushed in recent days but Gunmakers appear to be suffering as The Obama administration admits its done all it can...
Financial stocks have collapsed (the worst start to a year ever for XLF) - just as we said they would - to their less exuberant credit market levels...
Most worrying is the spike in the TED Spread - a topic we have been warning about for 2 months - and its implications of systemic risk concerns....
As Citi and Goldman are seeing their credit risk surge the most...
Treasury yields rose on the day - as China selling to support Yuan trumped any safety bid from carry unwinds...
FX markets were very active overnight in Asia and even the majors were swinging violkently as The USD Index rose 0.4% on the day... CAD plunged to new lows as crude tumbled...
With Offshore Yuan surging by the most on record...
With the CNH-CNY almost inverted...
Commodites were all lower as Yuan and USD rallied (but crude and copper were worst)
With WTI Crude collapsing to a $30 handle - its lowest in 12 years following weak China data and MS report...
And Copper crushed back under $2 as hopes for further China stimulus are rebuked...
Charts: Bloomberg
Bonus Chart: Oddly causative correlation of the day... (why oil dumped, and Yuan pumped)...