Stop on long dollar is DX 75.84.
Bonds have been in a downtrend since 8/25. The Fed announcement resulted in a sharp decline for the day which is being only partially retraced today. This means the Fed has been losing money on it's portfolio for 2 months now. Granted they have banked a tidy profit on their treasury purchases since they began last year as investors tagged along. The tide has turned and here is an ocean of treasuries out there held by investors and governments that are scared and angry at Fed policy. Bond investors are also looking at the junk bond market which has been offering record amounts for months now.
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