Gold down $13 to $3645WTI crude oil down 37-cents to $63.68US 10-year yields up 3.4 bps to 4.11%Bitcoin up 1.6%S&P 500 up 0.5%USD leads, NZD lags
There were differing views in markets as they digested the Fed decision. Bonds sold off on Powell's 'risk management' rate cut and the rates curve got a bit less dovish. That also lent a big bid to the US dollar, particularly against the yen as that pair returned to 1.48 after a brief trip to 1.4550 yesterday. The pound also sagged in part due to dovish comments from Bailey following the rate decision.
Shares of Intel had a meme-worthy 25% gain at the open that faded only slightly as the day went on. That came following a $5 blllion investment from Nvidia.
Gold and oil markets retreated slightly with crude sliding after a report saying that Trump had been successful in convincing Europeans to cut LNG imports (but not oil). Notably, Trump has taken more-hawkish talking points on Russia lately.
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