Daily Reading on the Financial Markets: 10/16/12
John Hussman suggests that Bernanke and Draghi have entranced the market while disaster settles all around, unnoticed. As with chess, the endgame requires patience.
Reuters notes that 3rd quarter earnings have come with warnings about 4th quarter expectations.
While there are some indications the market may be rolling over, Chris Kimble notes that China’s market has reflected recent strength and high yield bonds are holding up – both bullish indicators for equities.
Zero Hedge makes that the case that the “deleveraging” of American consumers may more accurately be summarized as the bankruptcy of American consumers.