wooshka, page-9

Definitly a seminal moment -


http://www.bloomberg.com/apps/news?pid=20601087&sid=arLVtKsIG7w0&refer=home


U.S. Stocks Gain, 10-Year Treasury Yields Fall Most Since 1962

By Cristina Alesci and Daniel Kruger

March 18 (Bloomberg) -- U.S. stocks and Treasuries surged and the dollar tumbled after the Federal Reserve unexpectedly announced plans to buy $1 trillion of bonds in an effort to lower consumer borrowing costs and end the recession.

The Standard & Poor’s 500 Index added 1.4 percent, extending its rally since last week’s 12-year low to 16 percent. Yields on 10-year notes dropped the most since January 1962 after the central bank said it will spend $300 billion buying Treasury debt and up to another $750 billion on bonds backed by government-controlled mortgage companies. The dollar sank the most against the euro since September 2000.

“This is a huge step,” said Thomas Girard, who helps manage $115 billion in fixed-income securities with New York Life Investment Management in New York. “It’s a draw the line in the sand-type of event.”

1962.....(!)