The Treasury curve (2s10s) has collapse to 80bps – its lowest since September 1st 2016 following The Fed's rate hike. The supposedly dovish statement sent the dollar higher, and helped bank stocks (even as the yield curve dropped and flattened). Gold is also under pressure…
So that didn't work…
Almost at its flattest since 2007…
But financials don't care about the collapsing yield curve…
And despite the 'dovish' comments, the dollar is rallying…
via http://ift.tt/2rseqQ0 Tyler Durden