Wow – Dave Rosenberg writes today:
Remember, there has been an 86% correlation between the movements in the Fed balance sheet and in the S&P 500 since the onset of QE two-years ago.
Indeed, it took Bernanke one practice swing, but he got pretty good at this QE thing pretty fast…in fact, most of the “other 14%” was probably before Helicopter Ben ordered up some more cowbell!
After a career of studying money printing, Bernanke was ready for prime time nearly out of the gate. (Source: StockCharts.com)
And if you haven’t seen this hilarious QE2 cartoon, featuring “The Bernanke” and “The Goldman Sachs”, check it out now.