I have been surprised by the strength of the latest rally. Both the FTSE and S&P 500 are up 6.4% in three weeks. Yes, we all know why stock markets rallied, the Fed will continue to fuel asset prices but it is becoming clear that its actions have little impact on the economy. Last night the Fed admitted that the economy was losing momentum and this is after four years of aggressive bond buying that has flooded companies with cheap money...continue reading
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