The S&P 500 rallied well over 40 points (and the Dow up over 350 points) off the FOMC knee-jerk lows but bonds were largely unimpressed. USDJPY surged to new 5-year highs over 104. Bonds weakened, rallied,a nd then leaked back higher in yield to close almost unchanged from the FOMC announcement. VIX was smahsed back under 14% – its biggest drop in over 2 months.
- *S&P 500 RISES 1.7% TO RECORD 1,810.79 AT CLOSE
- DOW AVERAGE INCREASES 1.9% TO RECORD 16,171.12 AT CLOSE
We can only imagine what would have happened if he'd tapered $20 billion?
USDJPY hit 5 year highs…
Stocks surged on the carry exuberance…
but bonds reverted back to almost unchanged (as Gold tumbled and the USD surged)…
Charts: Bloomberg
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/W8osdBbVuKs/story01.htm Tyler Durden