Folks, rotation is good ultimately but not for momentum stocks, and this has been going on for months, not days.
Last night Lipper announced fund flow data and the verdict is in. Investors are reaching for risk and after March the data shows dramatic improvement in market tone after pulling back in the first two months of the year. The data also indicates April’s fund flow has started out strong.
Brazil suddenly has the eyes of global investors, let alone EM investors.
In state polls last night in India the opposition party won a stunning upset in areas that hold about 200 million people.
We remember Treasury Secretary Paulson’s reference to having a bazooka in his pocket ,but really it’s the Bank of Japan who is packing the heat and planning on using it.