Bonds, Stocks, Bitcoin, & Bullion Tumble As Rate-Hike Odds Rise

Overnight gains in US equities have rapidly evaporated as the cash market opened, with Small Caps and Nasdaq leading the drop...

Bonds are also getting hammered...

Breakevens are screaming higher - to new record highs...

Gold is trading lower...

And Crypto is taking a hit...

And all of this is happening as the STIR market shifts increasingly hawkish

It is clear that Powell's "dovish" taper talk has utterly failed.