Stocks and Precious Metals Charts – Risk Off, Down Bubble

from Jesse’s Café Américain

[…] The bubble momentum trade in financial assets was getting crowded and overdone.

The mavens of the markets tried to shake off the hangers-on yesterday, but Jay Powell nixed their plans with his happy talk.

So today the captains of Wall Street called for a down bubble, emergency deep.

Time to take out the garbage. Scrape the hull.

The challenge the financiers presented to the Fed showed up in the yields of the longer dated 5+ Treasuries and curve.

Despite the selling, the Dollar tread water very nicely just above 90.

VIX went north.

A grand wash day.

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