A couple of weeks ago, our country’s bonds took a hit on a credit rating downgrade. The market voted and over a few short days, global investors continued to flock into US Treasuries as the safest of havens.
This chart of YTD equity performance for several global markets also stands in stark contrast to all the negativity surrounding the United States these days.
The average developed and emerging stock markets are down more than the United States and in spite of the love-fest for all things China, it’s stocks are down just as much. (I’d also argue its governance is much more questionable.)
Just thought I’d point this out; seeing the data seemed inconsistent with the picture that has been painted of late.