Almost ‘Everything’s Coming Up Roses’

Investors in both stock and bond markets are suddenly blooming with optimism. Both markets rallied on Friday’s (mostly) positive employment report, including yet another sub-4.0% jobless rate and despite some negatives in the report. Stoking the optimism, perversely, has been economic news suggesting weakening: Cheery investors have focused not on that but on the potential ramification of it, that interest rates won’t be kept higher for longer after all. Both good and bad news are being met as great news! … One fact that indeed warrants optimism: The Fed’s 2.0% inflation target has been reached by one relevant measure. … And Dr. Ed reviews “Ripley” (+).