PPT in action?
There’s no need. Over 60% of the volume on the markets is the result of algo’s and HFT. The algo boxes kicked into gear this afternoon after the Fed announcement.
With rates crushed as low as they are, where is money going to go? You really have only three choices:
1. Buy US stocks.
2. Buy US commodities.
3. Go offshore.
IMO, those choices are ordered according to risk, and the bigger systemic risk now is competitive currency devaluations.