Treasury yields jumped 3-4bps higher on the release of the Yellen testimony but are rapidly reverting that loss. Gold and silver were double-slammed but gold remains above its late-day (pre-spike levels) from yesterday at $1280. Stocks and USDJPY entirely decoupled which must have shocked a lot of algos but having failed to ignite any momentum in stocks, USDJPY is now fading fast.
The machines lost control – USDJPY insta momentum ignition failed entirely and is now fading back under the pre-Yellen levels…
Gold was spanked but bounced off pre-close ramp levels from last night…
The initial sell in bonds is quickly reverting…
Charts: Bloomberg
via Zero Hedge http://ift.tt/1emoqHf Tyler Durden