Yield curve flatter as 2 year yields rise. 30 year down a pip
The FOMC tightened by 25 basis points and project 3 hikes in 2017 vs 2 in the September dot plot.
The stock market is taking it in stride. The S&P declined into the Yellen speech at 2:30 PM ET, but has rebounded to the 50% of the decline at 2266.43. I like to see the rebound get above the 50% to signal the sellers are not really taking control. Watch the level for bullish or bearish clues.
The Nasdaq is down -7.2 points or -0.13%. The low reached 5435.08. The high extended to 5476.254.
The Dow is down about -45 points. The high for the day extended to 19966 - just 34 points from Dow 20000.
The yield curve has flattened with the 2 year up about 6 basis points now while the 30 year is unchanged.
