Bloomberg: Fed largesse propelled stocks higher, fueling a risk-on surge. The S&P 500 jumped 1%, erasing a loss of as much as 2.5%, while the Dow added 200 points. Treasuries also reversed course and fell, with 10-year yields managing to climb just above 0.70%. The dollar declined against every G-10 currency, with the Aussie and kiwi among the biggest gainers. Oil advanced and gold dropped back. Asian equity futures are in the green.