The graph shows the trajectory of today’s S&P 500 index (green) and the yield on the 30-year treasury bond (blue).
The U.S. Federal Reserve said on Wednesday that it would continue buying bonds at an $85 billion monthly pace for now, surprising financial markets that were braced for a reduction in the central bank’s economic stimulus.
Can you guess what time the Fed made the announcement?
Clearly, anyone betting on a Bear market took it in the teeth today (especially if it is just delaying the inevitable). I guess we’ll have to wait and see.
