Violent whipsaw during Powell’s speech keeps rates trending up

The rollercoaster of price action into and after the FOMC’s rate decision proved to be dizzying for many market participants, and the specific act of Treasury yields firming after Powell’s comments proved to be detrimental to US equity markets.  Specifically, the 2-year yield along with 10-Year yield both showed whipsaws that caused rates to turn back sharply higher following earlier plunges.  Importantly, this $SPX pullback has now given back 3...

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