"The key lesson is that when bond yields are so persistently low, there is really no sensible place for money to go except for stocks," says Don Luskin, chief investment officer at TrendMacro. "That puts a safety net under stocks, and events that would normally be bear markets turn out to be mere corrections and buying opportunities."
It’s a veil for fiscal stimulus in which the government prints money by itself, for itself.
Yes, it turned out to be a buying opportunity. In some ways it still is, more than ever.
For a data-dependent Fed obsessed with uncertainty, data itself emerges as new source of it.