World stock markets continued to build on strength that came out of Fed Chair Janet Yellen's comments yesterday. A humorous way to view the current interest rate mania came from Victor Reklaitis on MarketWatch, who observed that investors are "obsessing over when rates might rise from diddly-squat to squat." Whether irrational or not, that's the world we live in now, and it does impact markets.
According to bond guru Bill Gross, investors are mathematically-challenged when they buy bonds with negative interest rates, and that kind of behavior can ultimately have negative consequences for stocks. On the other hand Ralph Acampora, reportedly "the godfather of technical analysis" (don't know how he deserves that title, nor who decided he should have it - but whatever…), announced that the stock market has now entered a new bullish phase. He apparently expects new all-time highs in the near future, which isn't that hard to believe, based ... Log in or subscribe to continue reading.