Fed Meeting Sparks Yield Curve Steepening; S&P 500 Negative Gamma

Post-Fed: 30Y-3M spread widened 20bp to 1.43%, 30Y yield 5.20%, 10Y near 4.74%. S&P 500 entering negative gamma with put wall at 7,300. PCE data due today. Fed credibility questioned. New: Warsh article argues Fed ending forward guidance increases uncertainty, challenging prevailing optimism. Market volatility continues.