We had the good news (ADP beat sends stocks down) and now the bad news (ISM Services) which spikes stocks instantly up 1%. It seems increasingly clear from the last hour of trading that, as we proved here, the bulls are hoping for moar and moar bad news to keep the retirement dream alive [2]... Notably nothing else is reacting in this manner to provide cover for stocks.
Carry is not supporting this...
and nor are Treasuries...
