-- Bloomberg News' Richard Breslow,
FX trader and fund manager
"The
economic numbers released yesterday can best be described with a
reference to wheels falling off the bus. And it wasn’t just retail sales
and PPI in the U.S. but numbers from around the world, including China.
So, of course, when I woke up this morning the obvious first question
to ask was, how much are equities up?" -- Bloomberg News' Richard
Breslow, FX trader and fund manager
It used to be that the stock market traded higher or lower based upon corporate earnings and the economic news. Now, those things are irrelevant. All that matters now is what the central bankers are saying they're going to do today. One hedge fund manager recently stated, "There is no market, just interventions."
It used to be that the stock market traded higher or lower based upon corporate earnings and the economic news. Now, those things are irrelevant. All that matters now is what the central bankers are saying they're going to do today. One hedge fund manager recently stated, "There is no market, just interventions."
