"Inconceivable." With the total destruction of the "faith" in The Fed's pr0mised "recovery," stocks and bond yields are collapsing. A glance at the crash in fed reigional surveys should have given the market a hint (and credit did) but US equity markets are in free-fall and gold and silver are surging. Treasuries rallied hard on the bursting of the faith bubble with 10Y yields plunged back under 2.00% and 30Y yields broke below the 200-day moving average.
It seems bond had it right all week.. and stocks did not...
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As stocks plunge...
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Smashing stocks back into the red for the week...
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and bond yields are collapsing...
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Charts: Bloomberg
