Well, I guess last Thursday scared Powell, who has redoubled his pledge to buy up corporate bonds with impunity. The billionaire Larry Fink, the direct beneficiary of the Fed’s largess, couldn’t be happier. Here is the chart for the Investment Grade Corporate Bond ETF (NYSE:LQD):
However, I’d like to caution you Perma bulls that this doesn’t look like the beginning of a brave new market to me. Overhead supply is looming, at least in Russell-land.
Equities Head Higher After Fed Details Bond Buying Plan. Permabulls Beware
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