Who knew the Fed could dance? As the Wednesday rates decision approaches, the market has priced in “Operation Twist”, and it would appear that the “big money” does not want to be short equities coming Wednesday 2:15pm EST. What’s interesting is that Operation Twist is not a surprise to the market and has likely already been fully discounted. So why are equities rallying alongside the U.S. Dollar? The dollar’s strength is easy to explain. It’s another go-round of Greek default concerns, an S&P Italian downgrade, and the Chinese withdrawing their forex business from certain European banks. All that withstanding, the ... (full story)