The session following an FOMC rate decision is always a fascinating one. FOMC days tend to be truly chaotic, due to the flurry of incoming orders, algorithms driving markets up and down, and a general sense of confusion over whether events were already priced in, and if so, whether they were priced in enough. The best example of this is the spectacular squeeze in Silver. Up above 10% since the beginning of the week, the COMEX decided to coincidentally up margins in Silver... by 10%. The flows are getting interesting in this most confusing rate cutting cycle from the Fed and confirms that 2025 has been one hell of a ... (full story)