Photo: Charles Goyette (Blue Wire)
Earlier this week we wondered when the last remaining holdout double dipper would stand up and turn off the lights.Now we’re wondering the same about the QE-haters, who you literally couldn’t turn around without running into just a few weeks ago.
It’s not just that the market has erased its losses. And it’s not just that the economic data continues to improve.
It’s that along with all that, the dollar has strengthened.
Dollar-yen is now nearly back to where it was pre-Jackson Hole — when folks believe QE officially “began” because that’s basically where it was announced. Copper is surging, and it’s back to old highs, but the US dollar is up 5.2% since then (very early November).
So pretty much all the nightmare scenarios people had are quickly melting away, and hence you don’t hear much about QE anymore. Anyone still out there, or has the outrage crowd moved onto something else?
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