...In short, today’s decision not to taper was driven by unimpressive economic data, the fear of a 3% yield on the 10 year Treasury and gridlock in Washington. If the economy cannot handle a 3% yield on the 10 year, then the S&P 500 should not be north of 1700...paying continually higher prices for equities in a potentially weakening economy is a very dangerous proposition.There is a little more that you can click through to read.
Wednesday, September 18, 2013
Business Insider ran a brief commentary by Mike O'Rourke from Jones Trading about what is going on in the equity market after the no-taper was announced.
Posted by Roger Nusbaum at 5:49 PM