Spanish bond yields eased this morning….despite ‘woeful’ economic data having been released. (I may well have more on this later).
In the US, corporate profits are at an all time high: in the final quarter, profit margins for big business went on average beyond 27%. The real American economy is on its arse, and it’s deficit ceiling about to be pierced again: but the stock markets have kept on pumping up against any known standard of common sense. Continue reading