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RE: What Happened In The Stock Markets Yesterday? Legit Gains Or Is The Entire System Rigged?
Markets are rigged. Don't believe me just look at the blogs of David Stockman, former director of budget, under Reagan and Dr.Paul Craig Roberts, assistant secretary to the US Treasury under Reagan.
Both chronicle the massive market manipulation carried out by the Fed and other central banks working in coordination together.
Watch out for the rise in short term debt rates such as Libor which is hurting banks/corporations. As Morgan Stanley have pointed out this a key factor being ignored by the media/politicians.
See the 90 day Libor rate for this year - graph from the Fed: