While US equities remain immune, bonds, bullion, and the greenback are moving in a very "Taper-On" mode. Gold and Silver have been slammed hard this morning for the fourth time in the last four regional openings. 10Y interest rates on US Treasury yields are spiking to 2.98% (and 5Y is up 20bps this week alone); and the USD is well bid, up nearly 0.7% today alone as EUR and CHF crumble. It seems the great rotation from Fed-Kool-Aid trades is beginning... can stocks really withstand such liquidity conditions?
Gold and Silver have been slammed as each region opens...
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and the US bond market (and implicitly every bond in the world priced from it) is dumping...
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and the USD is bid once again...
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Charts: Bloomberg