Since The Fed unleashed its liquidity-withdrawing, confidence-inspiring, inflation-creating, growth-related rate-hike, things have gone a little bit pear-shaped for the policy-makers-in-chief. Gold has soared, stocks have plunged, but perhaps most ominously, bond yields have collapsed as policy-error (or naked bathers) are exposed. 10Y yields are down a stunning 33bps from The Fed decision, breaking back near the crucial 2.00% for the first time since October. The odds of a March rate hike are now under 25%!!
Error?
As 10Y yields crash below 2.00%...
Charts: Bloomberg