From Streettalk Daily X-Change January 24, 2013 - 2:19pm
There has been an burst of exuberance as of late as the market, after four arduous years, got back to its pre-crisis levels. Much has been attributed to the recent burst of optimism in the financial markets from:
1) Better than expected earnings - not counting the fact that expectations had been dramatically lowered over the last quarter. If you lower the bar enough you will get better results. However, if expectations levels had remained where they were previously every single report would have missed so far.
2) Stronger economic growth ahead - expectations are once again, as we have seen over the last 3 years, that the economy will grow at 3% or better in the coming year. Unfortunately, most of the economic data suggests that 2013 will remain mired closer to 2% after a very lackluster first half of the year.
3) The end of the bond bubble is near - like the economy; bond bear...
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