Yesterday’s rally in the broad averages was not exactly a barn-burner, but considering the news backdrop — GDP growth in Q1 was a paltry 0.1% — it is testimony to DaBoyz’ control of the markets that they were able to rally stocks at all. There was also an imminent reduction, to $45 billion, in monthly monetization by the Fed, but I consider this a non-event, since the prospect of actual, deliberate tightening is as likely as a Martian invasion.
