Gold is spiking, USDJPY dropping, and stocks leaking lower after Dallas Fed's Kaplan dropped some serious tapebombs ahead of Yellen's speech...

Speakingon Bloomberg TV, Kaplan headlines wwre as follows...

• FED'S KAPLAN: WE CLEARLY ARE ACCOMMODATIVE RIGHT NOW
• KAPLAN: INVESTORS USED TO IDEA RATES WILL BE LOWER FOR LONGER
• FED'S KAPLAN: MARKET OR REAL-ESTATE CORRECTION COULD BE HEALTHY
• KAPLAN SAYS MARKET CORRECTION WOULDN'T NECESSARILY HURT THE ECONOMY, AND MAY HELP IT
• KAPLAN: WE SHOULD BE MOVING ON B/SHEET AS SOON AS POSSIBLE
• KAPLAN: FED CAN SHRINK B/SHEET WITH MINIMAL IMPACT ON MARKETS

And the reaction was swift...

Gold spiked and USDJPY tumbled...

Bonds were also bid... but stocks barely budged?