The 1 13/32 move down in the T-bond today increases my confidence that the secular low in interest rates was seen on October 8. There seems to be a unanitmity of opinion that further Quantitative Easing guarantees a bid for bonds in future months. I don't agree.
The market seems to either be 'guessing' or 'assuming' what the effects of another few trillion of Quantitative Easing will be on various asset classes. Today's reversal in a number of markets suggests those guesses and/or assumptions may be wrong.