Things that make you go "HMMM"

Arsenio Hall meme
March 4, 2021 by Matt McCracken

Today, capital markets were "rocked" by comments from Fed Chairman Jerome Powell that were somehow deemed to be hawkish.  The most confusing reaction to his comments was the simultaneous sell-off in both precious metals and Treasuries.  In theory, these securities should not move in lock-step with one another but rather inverse to one another. 

I can't quite understand how the market interpreted Powell's comments to be bearish for both precious metals and Treasuries.  I do know that one side of the trade is wrong.  The next few trading sessions should give us some idea of which side that is.