The MSCI World Stock Market Index increased by 8.62% in May, following gains of 10.91% and 7.24% in April and March (see chart above). Over the last three months, the cumulative compounded gain of 29% in the World Stock Market Index is the largest gain over a 3-month period in the history of the index back to 1970 (full dataset here).
I guess green shoots are where you find them. That is still a seriously ugly chart.
ReplyDeleteThe pendulous pendulum of brain-drain in gigantic tide now shifts from the one Betz Cell of Bernanke's Brain back into the other side of the world.
ReplyDeleteSwooooosh
!
I know I said I was outta here, but I couldn't resist checking in to see how all the perma-bears were doing after I read the following headlines this morning:
ReplyDelete"Stocks extend gains after more positive data"
"Construction spending posts surprising gain"
"Manufacturing index up to 42.8 in May, beats expectations"
Of course, none of these came as a surprise to yours truly who's on the record as saying, "we're already out of the recession or are very, very close."
I hate veggies, but I LOVE those green shoots!