Positive momentum is feeding the trend, or "she'll be right, mate!"
Factors driving this thing:
- earnings (no worries there)
- positive change in unemployment (the end of the last holdout)
- Fed affirms ZIRP (giddyup)
- the conversion of the naysayers (I can see clearly now...)
- growing realization that recovery is real (only time will tell, but I don't have any time left)
It seems to me the consensus (at least among the major sell side strategists) from the beginning of the year is setting up to be proven right, ie. clear sailing in 1H10, potential ripples in 2H10. Whowouldhaveguessed.
No comments:
Post a Comment