Long-term interest rates fell this week, and a lot: the 10-year T-note from its 3.85 percent peak last week to 3.51 percent, which took mortgages from 5.75 percent to 5.375 percent.

This move thoroughly contradicts the one-way stock-market exuberance and the inventive reading of new data and the Fed’s post-meeting statement.

One day, when the "Green Shooter" economic optimists have it right, the bond market will get killed by the news, rates racing up.

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