Tuesday, October 15, 2013

The news at noon

Here's your noontime noos:

Bespoke - midcaps and smallcaps hit new alltime highs. Which is supposed to mean the bull market has farther to run.

Bloomberg - hedge fund bears at highs. They're usually wrong. So I don't think there's a meaningful top right now.

Michael Shaoul - German sentiment. Still positive, but still safely far away from top territory.

Michael Shaoul - India September PPI and CPI. Quote:

This emphasizes the very difficult position the RBI finds itself in, navigating between an industrial sector of the brink of recession, a weak currency and high inflation and we see no easy way out for monetary policy which now risk a period of stagflation.

FT Alphaville - inflation in China. The danger, again, is limited space for credit easing if pork yet again leads the CPI higher.

FT beyond brics - Chinese food inflation could be structural. The argument is that Chinese agriculture is so backward that it's unable to quickly respond to the inflation signal.

Reformed Borker (Bork Bork Bork!) - EMs might be creeping forward. Then again, do you really want to buy a short-term upward correction in a long downtrend? Check this out:

To me, you'd have to be a short-term pennyflipper to want to participate in that.

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