Markets Return To Normal After Big Nikkei Rally

mrlins on flickrAnd suddenly, the market feels normal again.

After two weeks of seeing the Nikkei plunge, and the dollar weaken and so forth, we’re having a day that feels like the gold old days.

Japan rallied 2%, which is a lot given how far futures had fallen in pre-Tuesday action.

And Europe is up across the board (Italy up over 1%. Germany up 0.8%).

The dollar is strengthening (back to over 100 against the yen). And gold is falling.

Also emerging market currencies are solid.

It may be temporary, but for things feel stable.

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