Emerging Market FX is tumbling post FOMC; IG and HY credit market spreads are knocking wider; Treasury bond yields are plunging (after a knee-jerk higher); and the USD is rising. However, JPY is outpacing the USD move and with its break below 102 critical support, US equities are plumbing new pre-December-Taper lows... S&P futures are now down over 35 points from the morning "EM is fixed; where are all the sellers" highs...
Dec Taper gains gone for Dow and S&P and almost for Russell...
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JPY carry unwind collapsing stocks...
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10Y kneejerked higher in yield and then tumbled...
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EM FX is fading back...
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Gold rose into the report...(oddly) then collapsed and rallied back...
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