Ben Speaks - Market Yawns (For Now)

UPDATE: Stocks testing lows

Out of the gate, Treasury yields dropped 4bps, Gold rallied $5, Oil popped, and Stocks leaked lower. But 30 minutes after the main-event, it seems that initial excitement has worn off. Gold has reverted (down) and Treasury yields (up) though we note that though it is marginal at best, S&P 500 futures are testing the day-session lows still (down 2-3 points). It would appear that infinity is still a big number and suggesting that they will add moar to infinity has done little to change what is priced in. The most notable change (we can see) is in JPY weakness and Oil strength so far... though stocks are leaking




Chart: Bloomberg