Good news is good news again

Wall Street’s surge to a fresh record suggests investors are becoming used to the idea of a reduction in Fed stimulus.

Stronger US economic data and a corresponding gain on Wall Street overnight may suggest US equity markets are becoming comfortable with the prospect of tapering. The Dow crossed the 16,000 mark to close at a record high.

Recently it has been a case of “good news is bad news” as markets have been sold off on any positive economic news, amid the overarching fear that the taper is close at hand.

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