It appears the complete decoupling from economic reality of the so-called US equity ‘market’, combined with the collapse in a data-dependent Fed’s credibility – topics we have extensively covered – has reached the mainstream. Barron’s always-insightful Randy Forsyth exposes the ugly reality that this is a “Bullard” market and we are just living in it as the flip-flopping Fed head is “the most visible telltale of the shifting winds of Fed expectations. Investors navigating the choppy waters of the financial markets are forced to change tacks accordingly.”
Only one thing matters..
Macro-economy? Nope…
Micro-economy? Earnings expectations… Nope!
Bullard-economy… Yep!
Excerpted from Barron’s – Is it a bull market or a bear market? Or maybe just a Bullard market?
