The USD surged and Treasury bond prices and precious metals tumbled instantly on the FOMC’s statement but stocks decide it was time to ramp to VWAP (and VIX was hammered lower). After the initial knee-jerk, stocks caught back down to the reality of the other markets as it appears the investing public chooses to “sell the news” on the basis that the Fed removed the ‘tightening conditions’ language. The only question now is just how much of November, December, and January’s bull market run has been pulled forward into the last few days.
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/xUfkq-UAP0E/story01.htm Tyler Durden