John Coumarianos’ chart of the day at Institutional Imperative. Coumarianos adds that it shows “the staggering run of bonds more than anything else.”
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Investors who might have expected the Fed to make even a minor policy change were let down Wednesday by the central bank’s inaction.
Every single US equity ETF except for Consumer Staples (XLP) posted a gain last week, with the S&P 600 Smallcap Growth ETF (IJT) up the most at +2.79%.
Companies are beating earnings expectations at a record pace
The situation remains fluid, and volatility can work in either direction. But if you’re expecting the cavalry to ride in to save the markets from themselves, don’t.