Since Europe closed, US equities have been on a tear - all on their own... Bonds, FX, and credit markets have shrugged as short-term VIX has been hammered lower dragging stocks to the high of the day. It seems the exuberance anticipated 'non-voting member' Lockhart's more dovish comments:
- *LOCKHART EXPECTS U.S. ECONOMY TO PICK UP IN 2013 SECOND HALF
- *LOCKHART SAYS ANY QE CHANGE SHOULD BE 'CAUTIOUS FIRST STEP'
- *LOCKHART SAYS QE TAPER POSSIBLE AT ANY OF NEXT THREE MEETINGS
His main comment that "I don't expect to have enough data to be sure of my outlook next month" seems to have triggered the last little leg higher. And if a non-voting meber can do this - do all these talking heads still think the market is 'pricing-in' a taper?
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