Gold Jumps, Crude Dumps As Fed Credibility Crashes With Stocks

For everyone who listened to Yellen today, we suspect this is how you feel...

 

So, first things first, Fed rate-hike-odds plunged further as they implicitly admitted they are clueless... July rate hike odds have collapsed to just 11% and September just 16%...

 

While bonds and stocks seemed relatively unmoved post-Fed, Gold gained most and crude dumped

 

On the week, Trannies are worst...

 

On the week, Futures show the overnight hype/hope ramp...

 

Trannies underperformed post-Fed (as did Small Caps) as Dow, S&P, Nasdaq managed to scramble back to unch before a late-day plunge

 

Interestingly 30Y TSYs actually underperformed initially post-Fed with 10Y outperforming...but as the close approached the entire bond complex was bid...

 

VIX jerked back above 20 as the late-day tumble hit...

 

As stocks catch down to VIX...

 

Once again all those hopeful bank stock buyers have been let down by fed promises... are you ready for the catch down?

 

The US Dollar Index fell today. It was drifting lower all night after China devalued, but then jerked lower on The Fed curfuffle, only to bounce back into the close...to end unchanged on the week...

 

Overall rates fell today (though the long-end underperformed) but on the week, the belly is worst...

 

Crude tumbled as PMs rallied post Fed but copper's overnight gains dominated...

 

Crude managed to scramble back above API cliff highs on DOE data, before The Fed blew it all up...

 

Charts: Bloomberg

Bonus Chart: Stocks are back in the red since The Fed hiked rates in December...