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Laughing In The Face Of Danger
More than $22 billion flowed into global stock funds over the latest weekly reporting period, a stretch that found stocks themselves gunning for their best week since March.
The MSCI World gauge was poised for a 3% gain amid a bull market on Wall Street, where the S&P came into Friday riding a six-session win streak.
If you're keeping track at home, everything on the board is higher in 2023. US equities, EAFE, emerging market shares, high yield, IG, cash, REITS, bonds, gold... it's all up.
Sentiment right now is too strong for a pullback. But sentiment can turn on a dime. For now, the trend is up up and away….
If the Fed is supposed to control monetary policy it sure sounds like you’re describing an all out revolt by everyone involved in the use and consumption of that money. You want markets to cool? How’s this look for cooling?? Liquidity is the key.
What happened to the theory of the liquidity crunch after the debt ceiling was resolved? Wasn’t that supposed to drive the market down?
That’s in part a Q3 story. So far, so good on the bills, but it’s far too early to say anything definitive about where RRP and reserves will end up and whether the Fed will face scarcity in the fall and so on. The jury will be out on that for a few months and then, if it doesn’t manifest in anything dramatic, the people who warned about it will pretend they never mentioned it. That’s the game, my friend. Such is life.