The Spring 2012 semester begins with equity markets looking really good (they generally tend to be so in January). Soon you will hear lines like “As January goes, so does the rest of the year….” US stocks shrug off the unceasing European downgrades and calls from the IMF for more funding to guard against banking woes. Investor sentiment is extremely bullish with bad earnings implying the worst is over (see GS) and good earnings impying that better quarters are still to come (see FFIV). As always, I prefer what the bond market is telling me (the TLT is still high) so it is not clear how long the risk-on trade stays.
I just returned from overseas and need a few days to find my bearings again. The search engine bots must have found me, even without any posts, the site statistics show a steady stream of visitors! If some of the traffic is indeed human, then my thanks for visiting.