Sound And Fury

Sound And Fury

US equities were worried about a burgeoning humanitarian crisis in India on Monday and Tuesday. Then stocks forgot about it. US equities were worried about higher capital gains taxes on Thursday. Then stocks forgot about it. That was basically the week, in a nutshell. Thursday's tax angst morphed into an outsized Friday rally. In the end, the S&P went nowhere. Sound and fury, signifying nothing. Or, actually, sound and fury signifying i) untold despair in the world's second-most important
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