As the S&P 500 makes new multi-year highs, the USD dumps, commodities surge, and AAPL just does what it does best; The Fed's Dennis Lockhart has just 'subtly' announced the walking-back of expectations of QE3 happening anytime soon, via Bloomberg:
- *LOCKHART SAYS `MONETARY POLICY IS NOT A PANACEA'
- *LOCKHART SAYS ECONOMIC DATA HAVE BEEN `FIRM' IN LAST MONTH
- *LOCKHART SAYS HOUSING IS STABILIZING AND `ENCOURAGING'
- *LOCKHART: MONTHLY UNEMPLOYMENT RISE SHOULDN'T BE EXAGGERATED
- *LOCKHART SEES `MORE APPETITE FOR RISK'
and critically:
- *LOCKHART SAYS DISINFLATION, DEFLATION NOT NOW A CONCERN