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Friday, March 29, 2024

Stocks, Yield Curve Collapse As Powell Signals “Not Start Of Easing Cycle”

Courtesy of ZeroHedge. View original post here.

Well that upset the market…

Given the market’s expectations for 4 rate cuts and more if it really wants, Fed Chair Powell just stole the jam out of the market’s donut by saying this was a “mid-cycle adjustment” confirming that this is “not the start of an easing cycle.”

Stocks tumbled….

This presser marks the 10th time out of 12 that S&P has dropped during Powell presser. Not a great record. 

And the yield curve crashed…

And the dollar surged to its highest since My 2017…

Stocks down and dollar up – Trump won’t be happy!!

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