Tuesday, December 14, 2010

Fed-Up Stock Market


Sinking rates was the Fed's one desire
In becoming a big T-note buyer;
Though for naught they did meddle
In bonds, they can settle
For driving stock indices higher.   




The Wall Street Journal's Ahead of the Tape columnist, Kelly Evans, notes that "QE2" (the second round of quantitative easing) failed in its goal of lowering long-term interest rates, but has been correlated with a 19% increase in the S&P 500 index since August.  Should we take stimulus any way we can get it?

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