Ahead Of Ben's Big Speech - Market Is In QE-On Mode (Apart from FacePlant)
After this morning's low volume stop-run to the highs (divergent from Spain's 10Y fulcrum security), we have gone nowhere during the day-session so far - even with a small miss on Chicago PMI and beat in Confidence. But with a few minutes to go until his big moment, markets are trading in a QE-ON mode in anticipation of Ben's big words (except FB -4%).
US Stocks ignoring Spain's weakness
Treasury yields down, USD down, Stocks Up, Gold Up, Oil Up.