Even though the S&P 500 is getting closer and closer to reclaiming the 1300 level, the interest rate on the 10 year treasury hasn't rebounded quite as much. The last time the S&P 500 was at 1300, the 10 year treasury was at 3%. Today, the bond is still struggling to get over 2%.
Perhaps this is a sign that operation twist, announced in September, continues to have an effect on the longer end of the curve?
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