Artist’s impression of Fed credibility…

Since The Fed unleashed its rate-hike, things for the confidence-inspiring awesomeness have not gone well…

Trannies were worst post-Fed, Small Caps best but they are all red…

Stocks and bonds decoupled early in the overnight European session, then recoupled when Europe closed then stocks just went full retard into the close…

Here’s your day summarized… come on!!!

As the machines lifted stocks to the opening ramp highs…

But credit just laughed…

As the algos ran the stops to the pre-opex dump… (that was a 140 point rip in The Dow in the last 30 minutes… on absolutely no news whatsoever)

FANGs were dumped and then pumped into the close but remain red post-Fed…

Stocks continue to leak lower towards credit’s inevitable endgame…

Meanwhile Waddell & Reed’s canary in the coalmine is flashing red… Is WDR the marginal liquidator-at-any-price?

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And The TED Spread is soaring…

The USDollar was sold from early in the US session to the end of the EU session, then flatlined…

Treasury bonds were well bid in the early session (notably 5Y, 7Y, and 10Y bonds are unchanged on the year now in yield terms)

The weaker dollar broadly speaking helped commodities with silver and gold doing well..

But crude’s January contract expiration seemed to keep volatility under control (despite the surge into NYMEX close across the complex)

Charts: Bloomberg

Bonus Chart: “Fed Says”