Not exact matches
Crickets from those who insisted (yes you, Jim Pethokoukis) that the public
equity rally was tied to Obama's agenda
losing steam.
The DAX continued to
rally today, as we expected, and the Euro strength looks to have
lost its dominance over European
equities, as the two asset classes are strongly diverging.
The U.S.
equities market was closed for Thanksgiving, however, so the Kiwi's
rally lost steam when the U.S. session rolled around and the Kiwi's price action became more mixed.
Which is a terrifying reminder of the underlying economic reality since then — in the absence of trillions of monetary (& fiscal) stimulus, and the bond &
equity market
rallies they've induced, quite obviously something more like (or even worse than) Japan's
lost decade (or two) would otherwise have been on the cards (& might still be)...