In Bernanke we trust!? The nominal crowd says Yea as the S&P futures are of course rallying pre market but the REAL (after inflation) money crowd says Nea as gold is up by about the same amount. I understand the markets desire to have Bernanke reappointed, which seems will be the case this week, from a continuity standpoint but until the dual mandate focus of the Fed is altered, whoever replaces him would highly likely not have much of a different approach. Asian stocks continued their Chinese cool down pullback led by Bank of China which said they will raise capital to fill a balance sheet hole. Just as the rest of the world is thinking about reversing the steroid shot of stimulus, the Bank of Japan said they will step up QE should their economy slip again. Greece will try to sell 5 yr notes this week and their bonds and stocks are bouncing. Existing Home Sales are key today.
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