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[Islander]

Trends

Commodities down, Dollar and Bonds up, Shiller PE at ~23 says market expensive. Tobins Q says the stocks are costly.
Defensive sectors in health care and consumer staples, bonds move to sector leadership.

Bonds rise : how long depending duration of a sell-off. The off-Shore money coming into the US markets last week moved in favor of
dollar demonimated debt.

A fall in the S&P to 1150 could trigger a restate of QE. Until then Short spreads.

Islander.