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... Live scenes of the "Powell Put" https://twitter.com/search?q=%24USD&src=ctag&ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); pic.twitter.com/Rrsm27KT3y— Viraj Patel (@VPatelFX) https://twitter.com/VPatelFX/status/1465710808227221517?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); Tyler Durden Tue, 11/30/2021 - 10:59