Why Stocks Are Soaring: A Massive, $64 Billion Buy Order?
Last Friday, when stocks were tumbling, we reported “some good news for the bulls” which was lost in the overall chaos over the latest mutual fund liquidation discussed earlier. And no, we did not anticipate that President Trump would activate the Plunge Protection Team over the weekend: the good news in question was that as Wells Fargo calculated U.S. defined-benefit pensions fund would need to implement a “giant rebalancing out of bonds and into stocks” – in fact the biggest in history – with the bank estimating roughly $64 billion in equity purchases in the last trading days of the quarter and year, prompting the banks to ask if traders are about to make pension rebalancing “great” again. Read More @ https://www.zerohedge.com/news/2018-12-26/why-stocks-are-soaring-massive-64-billion-buy-order
TREASURIES-U.S. 10-year yield hits 10-month lows amid Wall St volatility – now lets see NFP this coming Friday.
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