Since Janet Yellen started speaking yesterday, the USD has jumped most in 10 weeks to 1-month highs, Treasury yields have risen 5bps at the short-end but are unchanged at the long-end, Gold and silver are down 1%, oil up 1%, and copper -1.4%. In stock land, The Dow and Trannies are leading, S&P is unch, and Russell 2000 is not happy (-1.3%). VIX tested down to a 10-handle once again (but closed at 11.1). Credit markets remained far less excited than stocks today. Biotechs are down over 4.5% since Yellen started speaking and Social Media -1.2%. The Russell 2000 closes -0.8% for 2014.
US Equity markets are mixed post-Yellen - no bid for Russell 2000 stocks (despite every talking head dismissing Yellen's warnings)... Of course the big caps are surging to record highs as she gave them an all-clear...
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The S&P has made it back into the green post-payrolls...
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The momo names are still getting sold...
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"Most Shorted" stocks remain lower post Yellen...
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Credit markets do not seem to be buying the bounce...
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VIX was slammed at the open to ramp stocks to record highs...
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Treasuries are just as unsure of what to do since Yellen spoke - short-end is up 5bps as 10Y is flat to lower in yield...
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FX markets were a one-way street of USD buying today (which helped JPY selling carry traders hold Trannies up).
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Gold and silver were flat to slightly higher as copper tumbled and oil jumped on the day...
Charts: Bloomberg
