dc CB 11:13 it is the cynical triumphalism that comes across from the last sentence ("Well of course....") is what makes reading the piece as useless and wasteful as slapping one-eyed trouser snake
dc CB 11:13:10 GMT - 05/27/2014
The melt up is accelerating and with the momentum tailwind back, newsflow is once again irrelevant: any news that is even remotely good is trumpeted, and any bad news - such as Europe's right storm rising in the northern states, and left storm surge in the states that demand more handouts from the northern states or China sinking a Vietnamese boat, the most serious bilateral incident since 2007 - are once again (and as usual) nothing more than a catalyst for hope for even more liquidity injections. End result: the S&P futures this morning are 5 points above Goldman's year end target of 1900 and 45 points away from its June 30, 2015 target. Can this breakneck scramble on zero volume continue until Grantham's bubble peak level of 2,200 is hit? Well of course: after all anything goes in the centrally-planned new normal.
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