Bonds in charge
US 30-year yields are up 2.6 bps, easing yesterday's post-Fed decline and more. The entire curve is selling off as the market digests the FOMC and the risk mood improves.
Gold was curiously strong after a hawkish Fed but it had some support from falling long-end yields initially. With rates down now, the rug has been pulled.
There's also the news that long-time gold bull John Paulson (who made billions buying CDS in this US housing collapse) is getting divorced. Proving that gold can't buy happiness.
