by Avi Gilburt
Yesterday really did not happen. How could we have seen a 10% rally when there was nothing to cause it?
Did we see an announcement about the eradication of the coronavirus? No. But, we did get more news of rising numbers of infected.
Did we see the passage of the Congressional bill? No. But, we did see more dithering by our wonderful representatives in Congress.
And, when the Fed announced further QE, all the market did was drop even more. In fact, based upon the reaction by the market over the last month, it seems the Fed “caused” many segments of our decline: