Stocks sold off today with at least 88% of all volume down. After the Fed meeting it was announced another GREAT IDEA, hey let's take our maturing 3-6 month bonds and buy longer dated ones!!! THUS lowering interestrates from their already historic lows!!
Hey, this way NO ONE will make any yield at ANY maturity!@ ingenious. 10 yr bond yield slipped to 1.87%. 2 yr yields at 0.18%. 3 month 0.01% wow
Transports reacted violently to the FED decision and sold off over 5% ! only 60 pts from recent lows.
Stocks still in trading range until they aren't. Look forward to Santa rally right? LOOK we already have lowest rates in most recent history. Sales of homes are being made, lots are foreclosures....one day this will be over..But IMHO we have well past peak profits and I think the market can go much lower.
D
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