Impressive rally as heat shield
Guambat chalks it up mainly to a classic squeeze on shorts as mentioned here, fueled along by the quarterly expiry of futures and other so-called witches.
But, more cynically, Guambat reckons it has been manufactured by the same, usual suspects to ramp up particularly financial stocks to take the heat out of bank reforms.
FOLLOW UP:
Perhaps not exactly on the same conspiracy page, but to the same result, is this post, Sep 24th (a week after this post in the Stew), at FT Alphaville: This bank-engineered equity rally
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