10 Year T-Note yields continue to rise today by 4.22% along with the Dow, which rose by 0.73%. The previous correlation oddities have now been broken, and now investors are selling bonds in order to purchase stocks, according to the WSJ.
The Bank of England followed through on expectations to provide stimulus, helping the FTSE and the Dow gain. Domestic bank stocks like JPMorgan and Morgan Stanley beat on earnings, and rose 1.5% and 3.1%, pulling the broader market up.
The US Economic Surprise index by Citigroup rose to positive territory (13) for one of the first times in the past year and a half, according to the Wall Street Journal. The fact that there are upside surprises, as indicated by this index, shows that even under the weak EMH, the market can be positively affected by further news developments.