Let me ask you something... what is wrong w/ this chart? I mean really, SPX Humps 1 & 2 were fairly normal, with T Bill yields either elevated as they should be or following the bull market upward. What gives w/ Hump #3? Eh Beuller? Why the fuck are they continuing to punish Grandma's savings w/ ZIRP long after the bull case has been proven out? WTF are they afraid of? This is just very abnormal and I want to see Janet get her mug in the media on Wed. and start to at least talk about this abomination on the Fed Funds and hint @ policy tightening. And no, the 'taper' is not tightening. It can be argued to be the opposite, when it is done against ZIRP.
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