13th 'up' day of last 15 for the S&P... Quite a day (considering Bernanke said they "were avoiding sharp shocks"):
- Gold's best day since January 2009
- 5Y Treasury's biggest yield drop since March 2009
- USD's 3rd worst day in a year
- Homebuilders biggest rise since June 2012
- New all-time highs for Dow and S&P
Two things of note aside from this chaos - shorts were being pressed into the meeting (and were smashed higher on the news); and VIX, which had been bid going in, is diverging after the press conference from equity exuberance.
Things stabilized a little when Ben stopped speaking... apart from in gold which surge to its highs...
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Homebuilders won...
[3]
but the broad indices were pretty much all in line systemically...
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Gold's biggest day since Jan 09...
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and Yields collapsed...
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Shorts were hammered going in to the statement but by the close were in line so the squeeze was painful but not terrible...
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and we note that VIX was well bid into the close... (apart form that spike lower right at the close)
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The last hour of the day saw some give-back (in all but gold)...
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Charts: Bloomberg