“The danger of mispricing risk is that there is no way out without investors taking losses. And the longer the process continues, the bigger those losses could be. That's why the Fed should start tapering this summer before financial market distortions become even more damaging.” - Martin Feldstein, President emeritus, National Bureau of Economic Research, July 1, 2013
Tuesday, the S&P 500 was up 1pt to 1686 (rounded).
VIX was unchanged at 13.59.