Did The Market Misread The Most Important Event Of The Week?

Did The Market Misread The Most Important Event Of The Week?

So we got a hawkish Yellen on Capitol Hill. Or did we? The market certainly seemed to think so. Rates and the dollar spiked hard when the Fed Chair's prepared comments hit the wires on Tuesday morning. Note the subsequent dollar dip into week end. Many market participants were confused. "A good meeting between Presidents Trump and Abe, strong US data, including higher than expected inflation, and a somewhat hawkish tone by Yellen in her Congress testimony supported the DXY early in the we
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