Well there was a little selling yesterday and the Dow is still down a bit, a little after 2 ET. Otherwise, the pump-pump-pump has resumed and everything is up, performing inversely to quality – RUT up 1.4%, for example. Europe closed down 2.6% (basis Stoxx 50) but the US – not a worry in the world, apparently. Well, except in the Treasury market which is still up somewhat, although off earlier highs. I presume the machines will have the bonds red and everything else nicely green by the close, though. What a travesty.

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