Safe haven gold is down, stocks are up. Aside from the implications on stocks that the big guys listed on both the DJ, and S&P represent, the markets are hard to figure out. They're not a perfect lens into economies but their not terrible either.
I'm still flumoxed about the bullishness of it. There's nothing I'm reading in leading economic indicators that warrant this level of enthusiasm for buying. Travel and leisure and the services sectors are in the shitter and will be there for a good while given the combination of impending failures and consumer reluctance to travel. Since this makes up huge percentages of every developed economy's GDP and a shit-ton of the economies of countries that depend on tourism for most of their GDP, I don't get it. Whatever.
I suppose that hidden factors, like sovereign wealth and pension fund investments may be moving markets with substantial piles of cash from these two places coming off the sidelines.
I'm still flumoxed about the bullishness of it. There's nothing I'm reading in leading economic indicators that warrant this level of enthusiasm for buying. Travel and leisure and the services sectors are in the shitter and will be there for a good while given the combination of impending failures and consumer reluctance to travel. Since this makes up huge percentages of every developed economy's GDP and a shit-ton of the economies of countries that depend on tourism for most of their GDP, I don't get it. Whatever.
I suppose that hidden factors, like sovereign wealth and pension fund investments may be moving markets with substantial piles of cash from these two places coming off the sidelines.
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