We have to thank Benjamin Bowler: one month ago Bank of America's "equity-linked analyst" (aka derivatives guy) was the first honest sellside banker to demonstrate, vividly and in no uncertain terms and with lovely charts to boot, how the Fed's "massive manipulation" broke the market. We urge anyone who missed it the first time, to reread his piece from late December (it can be found here) because it summarizes in a few paragraphs about 7 years worth of posts from this website.
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