Spreadex Market Update
Major indices test five-month highs
Investors can become increasingly self-conscious though, turning to only potentially significant negative news flows as enough of a reason to unwind to cash in light of a year past where even hedge funds have struggled to beat inflation, let alone the market.
This week has been both steady and positive, lending credibility to the so-called January effect – a month where securities such as stocks experience patterns of stable buying.
But better practice is to illustrate successful bond auctions and positive US economic data and earnings to understand this hopeful start to the year.
Happily, better than expected earnings from mega-caps Bank of America and Morgan Stanley yesterday where overcast by an improvement to overall jobless claims not seen since four years ago.
While much of the same positivity was seen during the first weeks of 2011, at least the extent to which potential headwinds could damage markets this year are not too dissimilar from last, hopefully making both policy makers and markets more experienced and capable this year than last.
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