Bonds, Dollar, & Stocks Bid After Hawkish Fed Cut

After an initial dump, equities are back at the day’s highs after The Fed’s cut-and-pause statement. Bond yields are down, the dollar is up, and gold is down…

Equity algos like it – for now…

The dollar is up, modestly…

Source: Bloomberg

The long-end of the curve is sliding lower in yield…

Source: Bloomberg

And gold is getting hit – though remains higher on the day…

Just what damage to all of this can Powell do?