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Only A “Black Swan” Can Stop Me Now!
Right, so nothing matters anymore.
Not the fact that a reality TV show host and government neophyte occupies the White House. Not the fact that there's a Nazi on the ballot (again) in France. Not the prospect of a nuclear war on the Korean peninsula. Not the fact that the EU is on the verge of dissolution. Not the fact that there at least three Sunni/Shiite proxy wars raging across the Mideast. Etc. Etc.
By all accounts, any one of those of those things should be sufficient to drive volatilit
In the market, if it’s obvious, it is obviously meaningless.
I think it’s more of a “deer in the headlights” thing.
An educated guess would be something in asia. Large china deval, BOJ capitulation, etc..,
My take is that what we are witnessing is the tail end of a rally with complacency having set in, and risk being ignored. The market says glass is “half full”. Once a piece of information suggest continued peace and money supply growth is at serious risk, sentiment will change.