Emerging Market FX is tumbling post FOMC; IG and HY credit market spreads are knocking wider; Treasury bond yields are plunging (after a knee-jerk higher); and the USD is rising. However, JPY is outpacing the USD move and with its break below 102 critical support, US equities are plumbing new pre-December-Taper lows… S&P futures are now down over 35 points from the morning "EM is fixed; where are all the sellers" highs…
Dec Taper gains gone for Dow and S&P and almost for Russell…
JPY carry unwind collapsing stocks…
10Y kneejerked higher in yield and then tumbled…
EM FX is fading back…
Gold rose into the report…(oddly) then collapsed and rallied back…
via Zero Hedge http://ift.tt/1e8r75h Tyler Durden