The "many" over the "few" in the Fed minutes

The bond market took off and stocks improved when the markets saw there was a change in FOMC minutes that "many" were seeing the need for accommodation as opposed to the previous month when there were "few" with that view. There was also the view that the recovery needed to be more "substantial and sustainable".

With higher expectations of a QE3, we can anticipate that the current equity rally will continue.