Stocks & Bonds Are Plunging As Powell Fails To Deliver
No hints at a 'Twist', refuses to speculate on repo issues and no mention of SLR exemption.
That is not what the market wanted to hear...
Treasury yields are spiking with 10Y well above 1.50%...
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And 5Y is back above the critical 75bps level...
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And as rates spike, stocks slump...
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And the dollar is spiking...
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Get back to work Mr. Powell.
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Oil prices are rising and will effect inflation etc, even if the Feds inflation tracker fails to recognize it properly. Stimulus is needed now more than ever even though it is helping to cause the rising oil prices which I suspect will eat up most of the stimulus.