Boom, Bust, Lies and Claptrap!

Embracing Risk Dow up big time on Thursday – 259 points, or 1.5% Gold up too – to over $1,300 an ounce. This year is going to be a hoot. Boom, bust, lies and claptrap – we’re going to have it all!
What accounted for Thursday’s big bullish surge? From Bloomberg:
‘The MSCI Emerging Markets Index added 0.8% to 983.53. Russia’s dollar-denominated RTS Index rose the most in the world and the ruble strengthened as the ECB’s move encouraged investors to buy riskier assets.
Gauges in Poland, Hungary and the Czech Republic increased at least 0.9%. Oil producer Petroleo Brasileiro led gains in Brazil. Asian stocks jumped as China pumped funds into the financial system.
ECB President Mario Draghi unveiled a quantitative easing plan of 60 billion euro a month until at least the end of September 2016. The move, which is intended to counter slowing growth and the threat of deflation, may spur capital inflows into developing countries. China’s monetary authority used open-market operations to add cash to the financial system for the first time in a year and spurred loans amid a fund shortage.’

This post was published at Acting-Man on January 26, 2015.