So far it is Gold and Silver that are being bought, Treasuries sold and steepening (as mortgage spreads collapse further). Stocks spiked, fell back to unchanged, have new respiked to new highs, and are leaking back now... Notably, equities are the most knee-jerky whip-sawy - Gold and Silver seems consistent as do Treasury yields. USD is down a little, Oil up a little, and AAPL underperforming the S&P for now...
[2]
Gold and Silver Surge...
[3]
Treasury Yields spiking and steepening (and MBS Spreads compress to record lows)...
[4]
To summarize:
- The good news: The Fed's NEWER, OPEN-ENDED and NEVERENDING QE is bigger, longer, and has a Retina display (however its battery life is far shorter).
- The bad news: The Fed has now confirmed it is merely a sad, political, self-frontrunning caricature of what a central bank should be.