investors who shrugged off all of the bad news to focus only on stronger earnings and M&A deals. This included a softer non-manufacturing ISM report, a rate hike by China and another sovereign debt downgrade in Europe. Part of the strength can be attributed to the Fed’s optimism and their plans to keep monetary policy easy compared to other central banks around the world. According to the minutes from the March FOMC meeting, the Federal Reserve has grown more comfortable and optimistic about the outlook for the U.S. economy.
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