Sarai! the lack of inflation you see is on the verge of graduating to Deflation. Where inflation is a slow bleed on equities, deflation is the big ugly. Rising equities(at least last week),in a deflationary environment, is the rubber band getting wound tight now. The tighter we get the bigger the snap. Bears are getting downright giddy over this thought. If we get there, no telling when, it won't be pretty.
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