Jay Powell claims he’s just doing his job.
Maybe somebody (Jay) did break something (the bubble).
In an obvious flight to safety, here is the US 2 year Treasury trading like Bear Stearns is collapsing all over again with a solid 25 bps drop in yields since early this morning:
But worse is the crypto picture tonight as what ever went boink this afternoon has resulted in massive selling in Bitcoin and across the cryptocurrency universe:
Futures are somewhat muted but there is still the sunrise when the markets wake up to a jobs report and waiting news all day from the West Coast or worse, to see what shoe drops next.
Here’s your warning Tweet from Burry as to be expected: