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Fed Growth Cut Unleashes Panic Buying Of Everything; Dollar Plunges Most Since 2009

Oil spiked 6% because "The Fed said the economy is slowing"; Stocks are up because "The Fed said the economy is slowing"; USD strength is a signal of the strength of the US economy which "The Fed said is now slowing"; Small Caps hit Record Highs because "The Fed said the economy is slowing"; and Nasdaq Tops 5,000 because "The Fed said the economy is slowing" - really only one thing for it...

Where to begin... Here is best...


or perhaps...


— Axios (@AxiosCA)

But seriously - look at this idiocy...from the FOMC statement...


With Nasdaq topping 5,000... (and Russell 2000 record highs)... and faded


Swinging stocks from red for 2015 to (near) record highs... (Trannies still red YTD)


VIX was clubbed like a baby seal


Bond yields collapsed (10Y under 2.0% again)... 10Y hit 1.92%


This is the biggest absolute drop in 2Y Yields since March 2009...


The USD was baumgartner'd... (led by EUR and Swissy strength)


This is the biggest percentage drop in the USDollar since March 2009...


Commodities smashed higher led by total insanity in crude


Think about it for a second... Fed enable lower rates for longer... which enables these forms to live longer than they should and produce more crude and this add to supply in a low demand world (Fed just said economy is slowing) which is merely exacerbating teh delfationary pressure on oil prices and the rest of the world.. So Buy WTI!!!!


Charts: Bloomberg

Bonus Chart: Pin the tailk on the donkey...


was clearly worried about an adverse market reaction to its decision to drop “patient” from statement.

— Joseph A. LaVorgna (@Lavorgnanomics)