Bear market rally or the beginning of a new bull market? Who the heck knows, but there is good news out there. The S&P extended it’s rally and is now up about 17 percent since hitting 12-year-lows last week. Today’s market was fueled by the Fed saying it would buy $300 billion of Treasuries–10-year notes surged. The gub’ment (as I like to call it in my best anti-big-government accent) also says it will drop another $750 billion on bonds of gub’ment-backed mortgage debt.
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