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News Link • Economy - International

Spot The Difference

One of these charts represents the equity market of an over-levered, recovery-hoping, money-printing nation that shows no signs of removing its training-wheels-efforts to devalue its currency and reflate its economy... the other is Japan.
Still think markets are efficient? Still believe that fundamentals are driving stock valuations?

It would appear, as we noted previously, that the better-than-expected headline data is providing exactly the cover for the FOMC to start to Taper in September (as opposed to exposing their forced hand nature from broken markets and monetization-sentiment risk due to a lower deficit).

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