Gold & Yield Curve Tumble After 'Hawkish' Fed-Hike; Stocks Drop As Crude Flops

Tl;dr: Stocks had stabilized ahead of the Fed (as oil prices fell, gold rallied, and bonds were bid). The 'hawkish' Fed signal reversed most of that - while oil remained near the lows of the day, stocks tumbled (AI outperformed bigly as 'broadening out' trade was battered, the yield curve bear-flattened dramatically, the dollar spiked, and gold dumped as 2027 rate-hike expectations rose. Amid all this noise, bitcoin went nowhere.

Warsh 1 - 0 Trump...

Rates & The Fed