EMERGING DEBT ISSUANCE EXPLODES
I almost feel the urge to break into some kind of tirade.....but I won't....not tonight.
Some churning here at these levels, so overhead supply is apparent, maybe temporarily stalling rally....market is overbought.
Bears appear back in hiding, but it seems to me many or most have learned NOTHING from the last 2 BEAR MARKETS and subsequent cyclical bullish periods.
We're not firing on all cylinders, I'm not sure which cylinders are firing. Businesses, middle class, married couples filing jointly, richer people are bracing for TAX INCREASES.
WHY does it have to be all or nothing? Dividend tax relief I could live without, but many other provisions will hit the MIDDEL CLASS HARD, aleady struggling.
I don't know when, but if it becomes clear that this will happen, I am guessing that on top of everything else could get investors to turn tail.
Meantime, yields on longer dated maturaties give MUCH different impression of economy and future than talking heads.
D
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2 comments:
Markets are insane and people dont learn or not yet I guess. However take a listen to recent Fed comments. Seems they see whats coming. Bernankes comments last week "unusually uncertain" ! Hahaha. Also take a look at Bullards comments today. He says we are going the Japanese way.Guess where the markets will be if we go the Japanese way.
Without housing and employment stabilizing it's hard to think of the economy on the path to sustainability....one day
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