Stocks, Bonds Tumble As Powell Warns On Accelerated Taper

Stocks, Bonds Tumble As Powell Warns On Accelerated Taper

Fed Chair Powell has been more hawkish than many expected during this morning’s hearings, specifically noting the non-transitory nature of inflation and the need to use his tools to address it.

One specific thing he raised  was that The Fed “can consider wrapping up the taper a few months sooner.”

This was not what the market wanted to hear and stocks and bonds immediately dumped…

Stocks immediately reversed their post-open ramp…

10Y Yield spiked higher…

And the Dollar spiked…

The Powell-Put just went kaput…

Tyler Durden
Tue, 11/30/2021 – 10:59

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Author: Tyler Durden

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