by Jeffrey P. Snider
It’s not just that there was an obvious and intense change in sentiment, as that is quite common among and within markets. It is more so that this repetition is a little too familiar. In January, the mainstream was taken aback as the world looked headed for a very dark place, all “unexpected” of course. Just a few months later, it has been nothing but a huge sigh of relief as if anyone might know for sure the danger has passed.
It has been nearly universal. In Canada, for example, as a proxy for both US and Chinese economies, this exhale into renewed optimism was a big one: