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FOMC Reaction - Stocks Rip, USD & Bond Yields Dip As Sept Rate-Hike Odds Drop To 40%

The early leak of the FOMC Minutes was initialy spotted in the FX and Rates markets (higher USD and higher yields) but as the full minutes were released the pressure really began in what appears a more dovish reaction. The Dollar plunged - near its early flash crash lows, yield across the entire complex have declined notably and the curve steepened; stocks are rising and gold and silver and getting a further lift... as September rate hike odds plunge to 40%.

September odds tumble...

And December odds rise to 65%


And after the initial reactions, the follow-through is very dovish


Charts: Bloomberg