The point of this post, however, is to point out what was simultaneously going on in the bond market that same day. First is a chart of the 10 Year Treasury Yield and below that is a chart of the 30 Year Treasury Yield. I circled the action from October 15 on both.
I'm not going to pretend that I know the reasons behind the move, but I will say that the evidence points to extreme bond market intervention. If we're in a healthy economic recovery, as the Fed and media pundits love to proclaim, then what gives? Why can't the bond market (and stock market for that matter) trade freely?
As I've said before, something is rotten under the surface. Be cautious out there.