"Federal Reserve Chairman Ben S. Bernanke said the U.S. needs very stimulative monetary policy for the foreseeable future.
“Highly accommodative monetary policy for the foreseeable future is what’s needed in the U.S. economy,” Bernanke said today in response to a question after a speech in Cambridge, Massachusetts. "
http://www.bloomberg.com/news/2013-07-10/bernanke-sees-highly-accommodative-policy-in-foreseeable-future.html
Surprise, surprise!
Interest rates rising far to rapidly with bonds falling and Ben does a U-turn. What a shock.
Most mid caps up around 10%, PRU up 20%, SBM 15%, EVN 12.5% . Traders leaving ABU behind early today but it will catch up.
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