Stocks Slammed Into Red For 2016; Bond Yields Plunge Most In 6 Months; Gold Bouncing Back

The last two days have seen 30Y yields plunge over 12bps (the biggest move since September’s Fed fold) to one-month lows. At the same time, thanks to The Fed’s hawkish jawboning, stocks are dumping also with The Dow joining the rest in the red for 2016. Gold is rallying back from its monkey-hammering yesterday but remains the laggard post-Fed.

The long bond is the big winner post-Fed!

It seems once again The Fed message is backfiring – bonds rally on hawkishly positive Fed commentary.