Get Me My Coke Straw

I’m sorry that I couldn’t be here for you on Fed Day. The celebrations couldn’t be fit into my tight schedule.

All you need to know is as follows:

The Fed will never taper again. In fact, they are in negotiations with Merriam-Webster to abolish the word.

The real goal here was to push interest rates higher so that the Fed could buy up yield. They want to have their cake and eat it to, and will do just that, on the backs of anyone who trades news cycles. Trade with your emotions, add your pound of flesh to the masonry.

The Fed created a few months of economic headwind; so what? It was all worth it if they bought enough bonds. Each round of purchases at high yields gives them more control back over the monetary supply (for when inflation does matter), and now yields can fall back nice and low again.

Precious metals will be a big winner here. Commodities as well. In fact, just think of this as 2010 again.

Janet Yellen is coming, and her blunt is bigger.