The FT’s Alphaville blog reports that “an early trickle of cautiously hopeful research notes about Europe’s economic situation has become a monsoon the past week” following upbeat data.
The euro has absolutely and repeatedly burned shorts in the past 4 months but the bears are still lurking. Some of the biggest and best bull markets are built on disbelief. Still, it takes a mountain of nerve to buy a currency where the politics are in disarray and unemployment is at generational highs.
