Looks like the Fed needs to get its hands dirty again.

Very odd.

MOVE index spiked the most in its history.

45% surge in one day.

Other extreme moves happened:

– Prior to the S&L crisis
– During the tech bust
– During the Oil & EM Crash

Looks like the Fed needs to get its hands dirty again. pic.twitter.com/9jeab3VQWW

— Otavio (Tavi) Costa (@TaviCosta) October 7, 2020

V-shaped recovery pic.twitter.com/hjS4EPJiQy

— Alessio (@AlessioTMAD) October 7, 2020

https://twitter.com/MacroCharts/status/1313796209707024385

https://twitter.com/Hoz94s/status/1313716728132755456

https://twitter.com/edwardnh/status/1313843884624052224