Markets are surging.
The yen is weakening.
Homebuilders are up 3%.
European financials are on fire.
What’s going on?
Dave Lutz of Stifel, Nicolaus passes along some thoughts.
- Everything started earlier with Germany. There’s a belief that Germany will “capitulate” and let the ECB pump more.
- Japanese investors are selling the yen and buying European assets.
- Homebuilders are strong.
- Hedge funders are heavy buyers. The “most short” basket is a big outperformer.
- More chatter about austerity abating.
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