NEW YORK (TheStreet) -- Is this a Fed-driven rally?
In 2009, Federal Reserve Chairman Ben Bernanke was Time magazine's person of the year. Now one wonders when Janet Yellen will win it next.
The S&P 500I:GSPC is up roughly 110% since the financial crisis bottom in 2009. Meanwhile, over that same timeframe total Treasuries and mortgage-backed securities held by the Federal Reserve are up roughly 700%.
Financial pundit Tom McClellan recently shared a startling chart about this. He gracefully titled it, Still The Only Chart That Matters. It was recently shared on StockTwits and you have to see it. Tell us what you think:
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