“Don’t fight the Fed,” unless of course the Fed says “sell.” Since Janet Yellen’s July 15th “Biotechs.. valuations are stretched” warning, investors have fought tooth-and-nail with the Fed to prove her wrong… Biotechs are now up 11.5% from that day at all-time record highs. And as a reminder bonds are in a bubble…
via Zero Hedge http://ift.tt/12iVEJU Tyler Durden