In case you missed it, stocks are on track to end a killer week.They’ve gone up five days in a row should today’s rally hold.
The S&P, Nasdaq, and Dow are up nearly 4.2%, 4% and 3.6% for the week.
Still, gold had a great week so far as well, despite today, up about 4.5%.
Interestingly, stocks today are up about 0.4% despite a strengthening of the dollar.
Friday’s big move nevertheless is happening in treasuries, no doubt due Mr. Bernanke’s hint of future rate tightening. The 10-year yield has made a stunning reversal over the last few years to 3.35% after breaking as low as 3.18%.