We had the good news (ADP beat sends stocks down) and now the bad news (ISM Services) which spikes stocks instantly up 1%. It seems increasingly clear from the last hour of trading that, as we proved here, the bulls are hoping for moar and moar bad news to keep the retirement dream alive… Notably nothing else is reacting in this manner to provide cover for stocks.
Carry is not supporting this…
and nor are Treasuries…
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/2-Z6OyhTB8s/story01.htm Tyler Durden