The short-end of the Treasury curve is unch but the longer-end is flattening notably with 10Y -4bps from pre-FOMC. S&P futures are surging (because why not) on the news that there's more taper, less growth, and higher rates than expected. Perhaps the most critical aspect is the collapse in VIX, which is now 1 vol lower than when Dudley warned of "complacency" at almost a 10-handle. Gold is up modestly higher nd the USD Index is down..
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VIX is almost at a 10 handle!!
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