Markets are sensitive to expectations, and losses not as severe as expected can bring out the bulls. Photo: AP
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

The bulls are back, thanks to better-than-expected market news. But there’s little support for their optimism

  • Expectations have so much influence over investors that a slower contraction than anticipated has boosted markets
  • They’ve gotten ahead of themselves: there’s little about global conditions to indicate the economy has hit bottom
Markets are sensitive to expectations, and losses not as severe as expected can bring out the bulls. Photo: AP
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