Fed vice-chair Fischer speaks and markets must show that what he says is important. Shortly after uttering the following:
- *FISCHER: MARKETS CAN'T DEPEND ON FED STAYING ON HOLD FOR EVER
Bond yields spiked and gold and silver prices tumbled (because it's all about the signal). Stocks initially ignored his comments, but are starting to lose ground now.
See - The Fed is serious!!
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And stocks... not exactly dumping...yet
[4]
Charts: Bloomberg
