QE3 as dead as Kelsey's nuts... 8 days after the rapturous calls of all-in 'Ben's got yer back' so buy-everything (coz retail will support you now and don't forget the beta chase?), the S&P futures have fully retraced the 40 points of S&P spikeworthiness that Ben's FOMC QEternity statement provided. Treasury yields are already notably below pre-FOMC levels, as is Oil; and the USD is higher - as Gold holds gains too but is fading.
We can only assume that with all pretense of surprise factor gone now Bernanke has shot his wad, the road to a steep recession is once again free of roadblocks...