Day 2 FOMC, back on the Farm................from Rico

Day 2 of the FOMC and the Fed unexpectedly squeels like a pig. I guess 'somebody' can let go of Powell's ears now since it seems he knows his job.

- Fed 'flips' and announces "No rate hikes this year."

 

Dollar tanks abruptly, 2Y-3Y-5Y Treasury Yields drop below Fed Funds Rate...and 'somebody' decides out-of-the-blue (well, it's not like anyone 'knew' d'ya think?) it's the perfect time to dump $1bn in 'notional' paper Gold. Yup.

- Nothing to 'see' here, move along...

 

"The creatures outside looked from pig to man, and from man to pig, and from pig to man again, but already it was impossible to say which was which."

- George Orwell Animal Farm