Looks like the 'expectations' post was pretty good. Greece voted in the austerity, and the SP500 closed above the 28/32 SMAs.
About a month ago I highlighted the major systemic threats that could derail the market in my 'no boom-boom?' post. For the time being, investors have a sense of normalcy from the various systemic-events that place fear in the market. The only real uncertainty left, at least until Europe festers again, is the US debt ceiling. (Even though Europe is festering, I think very real progress is being made and the structural/productivity improvements, that should have happened years ago, will make Europe a very interesting place for investors and make the Euro a legitimate global currency.)
The action in the 10yr also suggest the biased is now toward the equity markets again.
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