Since the last FOMC meeting (June 16th) - when Chair Powell admitted The Fed was talking about talking about talking about talking about tapering - bond (prices) have soared, gold has been dumped as the dollar surged... {chart} As a reminder, stocks tanked right after the Minutes, exaggerated by Bullard's hawkishness... but were miraculously saved coincidentally right at the moment when The PPT was called to The White House... {chart} In recent days, the hawkish shift in market expectations that occurred right after the Fed meeting has waned a little... {chart} Today's Minutes will be all about how much "talking ... (full story)