Still, there is a pull upward as bulls key in any positive news coming from policy makers. But on the face of it, it is hard to understand why stocks have sustained rallies as they have (apart from the fact they are so oversold sold). Still the market has a slew of bad news to hit town:
China's GDP at over a decade low
US home foreclosures up 24% y/y
US consumer and PPI prices still declining
Poland, Austria are in trouble, in fact include most of Europe.
Thailand gets credit down grade, could indicate downgrades for export driven Asian market - watching Philippines, Singapore, Indonesia
Sable rattling from Russia over possible NATO exercises in Georgia
Consumer confidence is still shattered.
No comments:
Post a Comment