Yes it is Wednesday and you know what the ICI released my favourite data , so here it is in my pretty charts…..and guess what it is still about buying equities and selling bonds…the herd of private investors is on the move and there is not turning back… no surprise that global equity markets have held so well despite the worries about Syria, the FOMC statement and the German elections…..
It looks to me that now that we have two event risks out of the way, the German election will be another storm in a tea cup stirred by attention grabbing analysts paid by the headline…..Let’s be clear, the Fed has brought Christmas forward in their communique of this evening…how dovish do you need to be to support this year end rally ? As can be seen from my last chart there are still a significant amount of bonds to sell for equities…. so its not too late to participate in this move…. Could even make sense to build an EM position if you ask me….