For all the glad-handers who said "the market seems to like it" - how do you like it now? The kneejerk jump in stocks to green on the day after payrolls (miss), spending (meet), PMI (miss), UMich confidence (down), ISM (beat), and construction spending (big miss) noise sparked algos momentum is fading fast... Treasury yields are plunging (10Y < 2.5%) along with the USD Index - giving up the entire Fed move. Gold and Silver have jumped around 1%, oil is lower.
Well that didn't last long...
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Treasury yields are tumbling... having retraced the entire post-FOMC losses
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As is the USD Index...
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Charts: Bloomberg
