Dear PB
I have been reading your posts for a long time and really appreciate them. Don't stop!
My views are close to those expressed in <http://www.mauldineconomics.com> free log on and read "The Slip ‘n’ Fail Mutts Theodore Seuss Geisel was a master of anapestic meter. Read article by Grant Williams Things That Make You Go Hmmm... (June 23, 2014)"
The thesis is that inflation is coming, what you mention could be the anticipation from the markets of this.
"There isn't a bubble in equity prices, Nor housing, nor bonds — there will be no surprises. The Slip 'n' Fail Mutts have their eyes on the ball, There's no need to worry, there's no need at all. But wait just a second here, what if they're wrong? What if they've had no idea all along? The tech bubble fooled them, the market got caned, remember when Ben said subprime was "contained"? These people are clueless I'll venture to say, Not that they'll listen (to me, anyway). But time after time when they face a new bubble, They never once think they're the CAUSE of the trouble. This time, however, the Mutts are in peril, And Citi, and Morgan, Wells Fargo, and Merrill. Inflation/deflation, the argument rages For pages and pages (and pages and pages). The argument's moot, though — there's no point engaging, The Mutts have no hope in the war that they're waging They've bitten their tails and that means just one thing: Somewhere a fat lady's starting to sing. The pain from the bite is now making its way From the tail to the brain — it'll get there one day. A matter of time now? A fait accompli? Inflation is coming believe me — you'll see. Try as they might (they can use all their tools) Inflation is going to clobber these fools. And when it arrives there'll be no ifs or buts; Time will be up for the Slip 'n' Fail Mutts."
(20min delay)