Markets Are On The Verge of Euphoria, Corporate Revenues Are Falling At Wal-Mart, Target, Proctor and Gamble, Starbucks, AT&T, Safeway, American Express and IBM, And Fed Could Taper QE As Soon As June
May 22nd, 2013
Global Risk Appetite At 2006 Levels – Nears ‘Euphoria’
Global risk appetite surged to 4.53 (5 being ‘euphoria’), its highest level since the euphoria event of 2006, and up from 1.76 one month ago according to Credit Suisse. Other risk appetite indices, as well as market anecdotes, confirm the “almost euphoric” environment. US credit risk appetite has charged higher and is now at 3.22. Furthermore, as they note, the current risk rally has several unusual features….