The Market Is Falling More: Dow Off 205! Treasuries Getting Slammed On Heavy Volume, 10-Year Bond Yield Shoots Up To 2.34%!!

The Market Is Falling More, And Interest Rates Are Really Starting To Shoot Higher
It’s not a huge move, but the market is falling during the Ben Bernanke press conference.
In the immediate aftermath of the Fed statement (@ 2 PM) markets fell modestly.
Now the Dow is down 138, and interest rates are spiking. Yield on the 10-year bond has hit 2.33% (!), which is the highest level since early 2012.
Read more: http://www.businessinsider.com/the-market-is-falling-after-fed-statement-2013-6#ixzz2Wh06zTzT
*BERNANKE: FOMC MAY `MODERATE’ PACE OF PURCHASES LATER IN 2013
*BERNANKE SAYS FED MAY END PURCHASES AROUND MID-YEAR 2014
*BERNANKE SAYS FED WILL EASE QE PACE IF ECONOMY IMPROVES
*BERNANKE SAYS PURCHASE REDUCTION REPRESENTS FOMC CONSENSUS

Bernanke Speaks, The Stock Market Squeaks, The 5 Year Shrieks
Things are escalating quickly… with US Treasuries beginning to look a lot like JGBs: the 5Y soared +18bps to the highest since August 2011, the 10Y +13.5bps touches 2.32% widest since March 2012, 30Y +8bps, and credit markets are getting monkey-hammered. There is no joy in Newport Beachville.
5Y the worst!!


http://www.zerohedge.com/node/475440
U.S. 10yr

2.34+0.156.94%

http://www.marketwatch.com/

Dow

15,112-2061.35%

http://www.marketwatch.com/

STOCKS CRUMBLE AND RATES SURGE AFTER BERNANKE SPEAKS: Here’s What You Need To Know

First, the scoreboard:

• Dow: 15,112.6 -205.5 -1.3%
• S&P 500: 1,628.9 -22.9 -1.3%
• NASDAQ: 3,443.2 -38.9 -1.1%

http://www.businessinsider.com/closing-bell-june-19-2013-2013-6

Nikkei could be very interesting tonight….