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FEB 19, 2013 - Zero Hedge

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Dow & S&P Surge To New 5-Year Highs, USD Unch

Volume was nothing to cheer about after a long weekend, but it seemed the forced buy-ins and stop-runs remain as stocks pushed on to new highs even as the USD ended unchanged from Friday's close and Treasury yields up 2-3bps. A 1.2% rally in S&P futures from Friday's lows as Copper and Silver were slammed lower (former on China 'tightening' and latter on equity short-covering margin unwinds we suspect). In general risk-assets were not playing along with stocks' exuberance but as the after noon played on and stocks saw at most a 1 pt reversal, so bonds pushed higher in yields - recoupling ... Read More

Tags: Dow & S&P Surge To New 5-Year Highs, USD Unch,  Futures Latest News