Oil spiked 6% because "The Fed said the economy is slowing"; Stocks are up because "The Fed said the economy is slowing"; USD strength is a signal of the strength of the US economy which "The Fed said is now slowing"; Small Caps hit Record Highs because "The Fed said the economy is slowing"; and Nasdaq Tops 5,000 because "The Fed said the economy is slowing" - really only one thing for it...
Where to begin... Here is best...
[5]
or perhaps...
Hahahahaha pic.twitter.com/2PZ5bae7Ha [6]
— Axios (@AxiosCA) March 18, 2015 [7]
But seriously - look at this idiocy...from the FOMC statement...
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TICK topped 1350 twice today - total panic buying...
[9]
Financials lagged post FOMC...
[10]
With Nasdaq topping 5,000... (and Russell 2000 record highs)... and faded
[11]
Swinging stocks from red for 2015 to (near) record highs... (Trannies still red YTD)
[12]
VIX was clubbed like a baby seal
[13]
Bond yields collapsed (10Y under 2.0% again)... 10Y hit 1.92%
[14]
This is the biggest absolute drop in 2Y Yields since March 2009...
[15]
The USD was baumgartner'd... (led by EUR and Swissy strength)
[16]
This is the biggest percentage drop in the USDollar since March 2009...
[17]
Commodities smashed higher led by total insanity in crude
[18]
Think about it for a second... Fed enable lower rates for longer... which enables these forms to live longer than they should and produce more crude and this add to supply in a low demand world (Fed just said economy is slowing) which is merely exacerbating teh delfationary pressure on oil prices and the rest of the world.. So Buy WTI!!!!
[19]
Charts: Bloomberg
Bonus Chart: Pin the tailk on the donkey...
The #Fed [20] was clearly worried about an adverse market reaction to its decision to drop “patient” from #FOMC [21] statement.
— Joseph A. LaVorgna (@Lavorgnanomics) March 18, 2015 [22]