Stocks Soar As Yellen Ends Hawkish Testimony, USD Hits 13 Year High

With nary a dovish word uttered, the end of Janet Yellen's testimony to Congress sparked a buying frenzy in USD/JPY (and implicitly S&P 500 futures) sending both to post-Trump highs. At the same time, Dec rate hike odds shifted higher still sending the USD index to fresh 13.5 year highs...

Stocks and Yen carry surged...

But notably VIX  spiked after the surge...

As Dollar Index jumped to new cycle highs...

Retracing almost exactly 61.8% of the big drop post 2000...