The market is 65% of the way to the state regulated 8 bucks a day higher in the SPUZ. I dont know what else there is to say. Of note today is that the treasury mkt is up almost 2 points, Im not sure but usually when stocks are soaring people dont plow into treasuries in that fashion. Perhaps Helicopter Ben is sitting infront of a CME terminal buying bonds to lower mortgage rates???Why not? What do you throw after the kitchen sink has been removed fromthe wall? ? This upmove is really starting to hurt.
Im in for 4 secondary offerings tonight and have passed on three. Im going to lunch - to bad its not passover or Id eat some matzah - poor mans bread.
JB
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