Seemingly inspired by last week’s ‘sigh of relief’ employment report, the major stock market indices topped new milestones in what can only be described as a ‘watching the grass grow’ rally.
Sure, it’s been dull, but who says rising portfolio values have to be accompanied by heightened exuberance.
Same 'ole, same 'ole
Earnings season is winding down, and you know it's a slow week when the most important economic report is weekly jobless claims.
But the general themes that have been in place since the beginning of the year - stronger corporate profits, accommodative global central banks, an expanding economy, and very quiet credit markets - were all a part of the equation.
Oh. In case you were wondering, jobless claims hit a fresh 5-year low.
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