If You Think This Is A MORE QE-Rally, You're Not Paying Attention

The easy think to say about the market rebound (or, relatively minor market selling) is that this is the Bernanke Put at action. Bad news = more QE = bullish for stocks!

Except, it doesn’t really look like that, and the easiest way to see that is by looking at yields.

As ForexLive just pointed out, the 10-year is back at 3%!

And check out 30-year bond futures. Amazing chart.

If this were about more QE, we’d be seeing a big bond rally. Alas, we’re not. This is, as we pointed out earlier, a “risk on” rally.

chart

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