Yeah impressive market rebound! I'm still puzzled by such a huge move off the December lows. A dovish Fed has been good news for months, but can't save us from a global economic slowdown. Yet the markets keep rallying and are now just a whisper from all-time record highs.
The VIX leveraged ETF meltdown to 0 wasn't that long ago. I do think this ends in tears but until then roll out another keg and try not to throw up on the cheerleader.
How Powell can say on one hand that the economy is so strong, and on the other hand will not raise rates, and stop the balance sheet runoff(in essence a rate cut) earlier than expected is beyond me ! The Treasuries tell the real story, and are trending down & became even more flat today than any time in the last year !