Post-FOMC: Market Un-Response

The reaction to the FOMC statement is extremely significant in its almost entire lack of response.

  • Pre: 10Y 1.94%, ES 1550, Gold $1606, WTI $92.70, EUR 1.2950
  • Post: 10Y 1.935%, ES 1551.5, Gold $1606.5, WTI $92.95, EUR 1.2966

Mortgage spreads widened very modestly; Volume has died; VWAP is your friend; and the Great and Powerful Oz is about to speak. 

The FOMC reaction is the tiny little wiggle at the right hand side of this chart...



No comments yet! Be the first to add yours.