Loading ...imho…the SM is rammed as a result of the Rig, in order to continue the illusion that all is well. All relevant mkts are Algo driven to Bull the SM….the Pm’s cannot be allowed to threaten that illusion, hence the constant hits.
Where I am most surprised, is their ability to manipulate long term rates, that was supposed to be impossible, however QE and Bond buying has managed it. That said the end of QE and Bond Buying is now, as they cannot take on anymore Bonds, hence the Fed ‘s small tightening steps, so soon Bond rates will rise, then they have a problem, as the debt is now humongous.