The FED said that it will continue with its debt buying program for another $45 billion a month. It simply means more easing, more money printing to support the economy, which is why the market made a strong push higher with EUR/USD to 1.3100 and S&P500 close to 1440 level. I would expect to see commodities much stronger than that, especially gold which is now reversing after earlier push up to 1723, 0.38% in the green. Silver doing much better its up more than 2 %.
U.S. treasuries are down and yields are higher, up more than 2.5% right now. Notice that a few days back, prices bounced higher from a lower triangle range higher in wave (d), still only fourth leg of a the pattern. With that said, technical picture for U.S. yields suggests that market is still sideways here, but that break of September highs will occur after wave (e). So our view is bullish for this market, which is also bullish for stocks and bearish for USD if correlations remain in current shape.