Risk trades are slightly lower today but the overall sentiment is wildly optimistic, especially in the stock market, as BI explores.
The market decided rose tinted glasses were not enough, put on its dark shades and hit the nightlife.
Meanwhile, Barron’s is calling for a rebound in housing prices.
The Big Picture does a major takedown of the article, noting it was written by the same guy who, in 2008, wrote: Bottom’s Up: This Real-Estate Rout May Be Short-Lived.
I have to mention this astounding WTF line in the article: “Some keen observers of the real-estate market, such as Moody’s Analytics’ Mark Zandi . . .” Really? Zandi is a very nice guy, but with no disrespect, I do not think there is a single US economist who has been less right about Housing than Zandi.
