Once again, US markets aren’t collapsing.
Despite a total implosion in Europe, and some bad data, US stocks are surging back.
The S&P 500 is barely down.
Below is a chart of the S&P ETF vs. EFA (a big cap global ETF).
We have to wonder if the outperformance of US stocks is a reflection of the belief that the US Fed is superior, and more inclined to intervene int he vent of a collapse.