THE ECB chose to surprise markets with a rate cut, stressing its commitment not to take any risk with deflation. We had expected them to hold off for another month, but were happily surprised by the decision.
Meanwhile, US data, while still difficult to read because of the government shutdown, was better than expected. A large majority of commentators are now arguing that "good news is bad news". In that line of thinking, good news on the economy is bad news for financial markets as it makes early tapering of asset purchases by the Fed more likely and we have seen over the summer what the effects will be. I think the "good news is bad news" argument will prove to be wrong.
'Good news is bad news':...
Keyword added to your list