My colleague Doug Kass is fond of saying "this market has no memory from day-to-day". That is certainly the case today. I would have thought there would be some follow-thru from yesterday’s late rally, but such is not the case.Asian markets plunged overnight on concerns about growth in the U.S., their largest export market. Also, there seems to be a big "risk aversion" trade on, as investors embark on a flight-to-safety of U.S. Treasurys, pushing the 10-year yield down to a new low of 4.00%. Silly Fed.The risk aversion trade is also[...]
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[Source: The Money Blogs]
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