The bulls are running as fast on the Street as they have ever run in Pamplona. Nowadays, bad news has always been priced in but good news, even hints of good news, has not. Thus it’s the opposite of early 2009. As I think I noted almost four years ago in my blog, a sign [...]
Yesterday was, almost literally, just what the doctor ordered. Stocks up, but not too much. Metals up, but not too much. Bond yields up, but only barely (no pun intended). Great leadership by the blue chips.
But to mix a metaphor, there was also a fly in the ointment the doctor prescribed. That fly is [...]