There should be absolutely no doubt that since Bernanke raised the possibility of reducing the dose of monetary policy morphine that all tradeable asset markets have displayed withdrawal symptoms. I think this cross asset class volatility (aka withdrawal symptoms) will be a feature of markets for many months. We have to prepare ourselves mentally for months of currency, bond, commodity and equity market volatility. At an equity market level expect gyrations between stocks and sectors on a daily basis. I expect oversized reactions to every data point: Charlie Aitken.
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