Financial markets have continued to be buffeted by some bad news, which has mostly been ignored. Meanwhile, key indicators like bond spreads and equity levels have recovered from, and in many cases improved beyond, where they were when Lehman Brothers was forced to bid adieu.
Thus, it seems like we may be entering the greed phase of the fear/greed cycle, but how far with this phase run?
Maybe longer than you think, as long as the Restructuring Dance continues.
Won’t admit that it’s part of a scheme,
But I can’t help but have my suspicions
‘Cause I ain’t quite as dumb as I seem.
And you said you were never intendin’
To break up our scene in this way,
But there ain’t any use in pretendin’,
It could happen to us any day.