Lions…
What started out as another stock market sell off, has now turned into heavy buying with all the major indexes markedly higher.
With that, there has also been a drop in the 10yr yield and relative dollar weakness. This has caused the MMRI to drop.
My bet, this is DIRECT intervention by the Fed., which is something I spoke about that the Fed. could do this morning in the video below.
Happens every Fed meeting. Market over reacts and then reverses the next day. The fundamentals haven’t changed. And the fundamentals are ugly.
PPT all hands on deck today