What else is there to say...
Despite an initial disappointment in stocks, once Janet started speaking, traders started panic-buying... coz everything is awesome...
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But notice that stocks extended gains and EURUSD tumbled (USD bid) as Yellen answered a question confirming the "soundness" of the financial system despite credit concerns...
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Best 3 days since October...
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Panic-Buying NFLX as soon as Yellen started speaking...
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But for all the excitement, The Dow remains red for the year...
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Oil dumped and stocks pumped post-Yellen... (it looks like the move was all pegged on her jawboning beginning at 1130)...
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HYG rallied once again - unable to fill the gap from Thursday...
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And credit was not as exuberant as stocks...
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Energy credit market continued to collapse (and energy stocks fell)...
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And bond yields were considerably higher heading in to the decision, the long-end dumped right after the decision (policy error) before yields surged back higher along with every risk-on asset as Yellen spoke... 2s30s was ucnhanged!!
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Bond started dumping as soon as Yellen spoke...
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The USD was sold on the "news" but quickly bid to hjighs as Yellen started speaking..
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Commodities were mixed with some big swings around 8amET (PMs surged) but crude tumbled after the DOE data and copper faded...
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Gold's early surge held but the machines ran all the stops after The Fed statement hit...
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Crude plunged...
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Charts: Bloomberg
Bonus Chart: Taper Tantrum Deja Vu?
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