Stocks caught a bounce today as the markets wait for news from the FOMC tomorrow on the much awaited taper.
Money is flowing out of bonds into equities as fears cool and the market realizes that it is inevitable that bonds have topped, no matter how slowly the great trend change may come given the Fed's policy of subsidizing rates. This once again will cause risks to be mispriced alas, and may put forward a rocky path to the unwary investor.
Have a pleasant evening.
