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Rational Exuberance (revisited)
Tue, Jun 5 2007, 18:53 GMT
by Mihai Nichisoiu
Under the title 'Rational Exuberance' I was recently noting here on FXstreet.com:
'A few days ago, Chet Currier, editorialist for Bloomberg News, published on Bloomberg.com a certain material under the title 'This Bull Market Is More Rational, Less Exuberant', in regard particularly with stock market developments ongoing in the US.
The bull market may look 'rational' in the US, but not necessarily on the level of global correlations.
The similarity between the Japanese Yen and the Swiss Franc price performances over the latest weeks has been striking. Some of the Yen cross pairs and major European stock market indices are nowadays at a point where they exhibit almost the same graphical price representation. These resemblances are to me rather a sign of exuberance, than anything else.'
Today, inter-market correlations which I recently referred to as exuberant have seen a new day of confirmation. The Swiss Franc has gone stronger, the Yen has gone stronger. The FTSE100 went lower alongside other main European stock market indices, the EUR/JPY lost ground as well.
We're living interesting times, more interesting yet to come.
Published on Tue, Jun 5 2007, 18:56 GMT
Archive
- September 15, 2008
Published On Mon, Sep 15 2008, 14:16 GMT - September 11, 2008
Published On Thu, Sep 11 2008, 09:18 GMT - September 8, 2008
Published On Mon, Sep 8 2008, 14:59 GMT - September 2, 2008
Published On Tue, Sep 2 2008, 11:46 GMT - August 28, 2008
Published On Thu, Aug 28 2008, 21:39 GMT
Mihai Nichisoiu
| Bucharest, Romania
http://www.mihainichisoiu.com | mihainichisoiu@gmail.com
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