Treasury yields jumped 3-4bps higher on the release of the Yellen testimony but are rapidly reverting that loss. Gold and silver were double-slammed but gold remains above its late-day (pre-spike levels) from yesterday at $1280. Stocks and USDJPY entirely decoupled which must have shocked a lot of algos but having failed to ignite any momentum in stocks, USDJPY is now fading fast.
The machines lost control - USDJPY insta momentum ignition failed entirely and is now fading back under the pre-Yellen levels...
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Gold was spanked but bounced off pre-close ramp levels from last night...
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The initial sell in bonds is quickly reverting...
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Charts: Bloomberg