Courtesy of Mish
Earlier today Fed Chair Janet Yellen made a speech to the Economic Club of New York on The Outlook, Uncertainty, and Monetary Policy.
Yellen's speech was Lovey-Dovey Citing “Other Tools” and More QE.
Let’s explore the effect of Yellen’s newfound lovey-doviness on interest rate hike expectations and other financial assets.
Rate Hike Odds September
Rate Hike Odds November
Measuring Yellen Yap
Gold is up $21 (1.73%), treasuries rallied, the S&P 500 stock market is up 17 points (0.82%) and the dollar down about 0.82%.
I offer this musical tribute.




