“Capitulating bears and overseas buyers are drowning out every other concern for American stocks, pushing the Standard & Poor’s 500 Index (SPX) to successive records even after the biggest drop in Treasury yields since June.
The Standard & Poor’s 500 Index closed at all-time highs twice last week and hasn’t traded more than 1.8 percent away from its record in the 23 days since March 11, according to data compiled by Bloomberg. The 2.1 percent advance over that period came as rates on 10-yeargovernment bonds tumbled 0.36 percentage point to as low as 1.7 percent. Plunges of that size coincided with losses of 4.6 percent for equities since 2010…..”
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