Take this with a grain of salt, but it is an interesting chart for sure.
The economic tide has been going out for quite a while, but the pace has just quickened in emerging markets – big time. Things have become quite unsteady and no one knows whether the current instability will trigger something broader in the developed economies. China is slowing. Japan has horns locked with China economically and increasingly politically. Europe is catching its breath before another wave rolls through.
Ben told us today that he’s not ready to stop rocking the QE just yet. The stock market celebrated. More manna from the Fed! Hurrah!
Now sing it with me – “Ain’t no party like a Bernanke party, ’cause a Bernanke party don’t stop!”
Ah yes it’s good to drink from the punch bowl.
The markets are getting squirrellier than 2000 Mustang GT on an oiled up track. By which I mean very squirrelly.
Art Cashin the dean of the NYSE floor stopped short of saying that out and out manipulation was happening in Japanese after markets trading.
Not bad. The economy must be just killing it! No? Well…Then why is the market ripping and roaring? You say they’re handing out free chips at the Fed window and the cards are stacked for the players? Oh excellent. That seems like a good way to run an economy. Pass me a martini.
Zerohedge reports that at least some of the inside guys are actively selling into this rising market. That is when one is supposed to sell. But CNBC says we should be getting on this train.
The Dallas Fed just released the April General Business Activity Report and it looks like the middle part of the US is going through an economic rough(er) patch. Quite rough perhaps. But because we live in stock bizarro world now, markets are rising. Bad news means more money from the Fed.