While I personally believe that the economy is too weak to withstand higher interest rates for a prolonged period of time, all that matters right now is money flows. Money is flowing out of safe havens and flooding into equities in search of Yield, Yield, and more Yield.
The Central Banks of the West, and Japan, have created a RISK FREE environment for equity traders and have unleashed a full fledged mania in the process. Mark this well as you are seeing what happens when moral hazard is on full display.
I have said it before here and will say it again, the only risk in the mind of hedge fund managers, institutional fund managers and pension fund managers, is the RISK OF NOT BEING IN STOCKS.
I want to see if this note can take out the dotted green resistance line that shows up near the 2.30% level; that would be a big deal in my view.