Dancing With the Bull

(1) Morphing from cyclical to secular. (2) Bull market in earnings. (3) 50% jump in P/E since 2011. (4) Secular bull’s favorite sectors mostly the same as the ones during cyclical bull. (5) Eurozone yields driving US yields lower. (6) Will weaker euro boost Eurozone CPI inflation? (7) Draghi blows off Krugman. (8) Eurozone’s problem is lack of bank lending and weak monetary growth. (9) Stepping on the monetary accelerator and the regulatory brakes.