The world is staging a rally on “steroids” as Doug Short puts it, in his latest weekly market update.
New highs are being seen all over the place.
But as Short notes, one country is MIA: China. Check out how badly it’s lagging everyone else.
Another interesting phenomenon is that the FTSE 100 — the UK’s stock market — is also going nuts, despite the well-known economic challenges facing the country. The U.K. is getting slammed, but entirely via its currency. The pound is getting pounded. So any outside investors who bought U.K. stocks would be lagging badly due to currency conversions. But in pound terms, the stock market is doing just fine.
Photo: Doug Short
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