by Chris Becker
Santa (or Janet depending on your spelling) has arrived! A stunning bounce in risk since the FOMC meeting with stocks soaring, bonds falling and oil going fa-la-la-la down down down.
First off the coal in the stocking, with Treasuries having their worst sell off in nearly two years as capital rotated out of bonds and into stocks, with 10 year yields up 7 points to 2.21% and 30 years up 9 points to 2.82% A similar dynamic in European bonds, with UK Gilts up 10 points to 1.87% and German bunds up 2 points as the continent also swamped into stocks.