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Markets Mark Time
The economic data stream is picking up, but there is an uneasy calm in the markets. It is almost as if the dramatic drop in stocks has left many with a sense of incompleteness, like waiting for another shoe to drop. The price action has not clarified the situation very much. The equity markets are stalling in front of important chart points as are yields and the dollar. The MSCI Emerging Market Index is up nearly one percent, rebounding from yesterday's 0.55% loss and stalling near the trying to get a toehold above the 50% retracement of the drop earlier this month. MSCI Asia Pacific Index rose a milder 0.35% but is ... (full story)