|The market has rallied a staggering +10% from the lows just two weeks ago. This is an astonishing advance considering Janet Yellen and the Federal Reserve confirmed today that QE Infinity has officially ended. But then again, maybe it's not so astonishing because the end of QE has been an event well telegraphed by the government.|
I continue to look at interest rates as the tail that wags the dog as government manipulation of rates and markets will surely continue far into the future. To borrow a phrase from Barron's columnist Steve Sears (@), "Ever heard of a TINA market? Means There Is No Alternative."
At least for now resistance is futile, as Janet Yellen and the Federal Reserve leave no alternative for money other than stocks.