Algos Go Nuts As Word “Hike” Makes Appearance On Capitol Hill

Need proof that there are very few humans left trading this market?

Look no further than the market frenzy that unfolded the very second Yellen’s prepared remarks hit the wires.

USD PARES DROP AS YELLEN SAYS UNWISE TO WAIT TOO LONG
TREASURIES EXTEND DECLINES, 10Y YIELD TOUCHES 2.466%
USD/JPY CLIMBS PAST 114.00 AS UST YIELDS RISE AFTER YELLEN TEXT

Cue the machines…