It was interesting to see the US markets follow through yesterday to the upside after a monster rally in shares when the Fed tapered large scale asset purchases on Wednesday. But rather than seeing strength in this, I see vulnerability because the move to the upside is directly at odds with the news flow and the fundamentals.
My macro view is positive. I am concerned about the inventory building and the recent uptick in jobless claims. I believe these data points bear watching. But, on the whole I am positive on the real economy and believe that the inventory/jobs situation can be overcome. That said, this recovery is long, 52 months long to be precise. Rather than believing we are going from strength to strength and a long cyclical rebound lies ahead, we should unders...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.