Janet Yellen's initial performance continues to get a thumbs down from markets, with S&P 500 (SPY) futures retreating 0.3% following yesterday's post-press conference slide. Fed speakers are set to hit the circuit within 24 hours and expect either clarification or confirmation of Yellen's musings concerning the end of QE (she tipped earlier than expected) and the beginning of rate hikes (she suggested six months after QE ends).
Europe's off about 1% and Asia was sharply lower overnight.
The 10-year Treasury yield is up two basis points to 2.78% and gold continues its retreat, -1.1% to $1,327 per ounce.
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