The fireworks started in Japan and that’s where they ended.
And that, folks, is the week.
Remember, three-quarters of the sales of FTSE 100 constituents come from abroad and on Thursday, the 40-day correlation between the FTSE and the pound turned the most negative ever.
Not sure where the fireworks were but maybe you can point me to them.
Well, there’s not a lot going on in the week ahead and by that I mean there’s so much going on that you couldn’t plan for it even if you wanted to.
“…or what counts as ‘fireworks.'”
And now, back to your regularly scheduled programming…
“On a purely emotional basis, I was torn between sell everything — hard to do in foreign exchange — and wondering anew whether news itself no longer has any meaning for investors.”
UK Cut to Aa2 From Aa1 by Moody’s.
As one reader put it earlier today, “is just being open for trading” a good enough reason for stocks to rally?
This time last week, everyone thought we’d all seen our last Friday.
There’s tension in the air.
BANK OF ENGLAND VOTES 7-2 TO MAINTAIN BENCHMARK INTEREST RATE
Generally speaking, this week’s theme (reflation back on in the U.S. as stocks, the dollar, and yields all rise in tandem) held, as there was no news “bigly” enough to change the narrative.