The goldfish-like memory of investors was on show again yesterday as one piece of moderately good news, lower than expected weekly US jobless claims, led to a short-lived equity rally and a bond sell-off. Did the market forget this week’s dire housing and durable goods figures? Or the fact that this morning the most recent US GDP figures are almost certain to be revised sharply downwards? If so, its amnesia is unlikely to last.
投资者昨天再度展现了他们如同金鱼般的记忆力。一条稍稍称得上利好的消息——美国上周申请失业金人数低于预期——引发了短暂的股票反弹和债券抛售。市场这么快就忘记了本周可怕的住房和耐用品销售数字了吗?或者以下事实——美国最新GDP数字几乎肯定要在今早大幅向下修正——也已被遗忘了吗?如果是的话,这种健忘不太可能持续太久。
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