This morning there were a multiple indicators that the economy is underperforming -
The Empire State Index is negative for a 3rd straight month.
The "Home Builder Index" was again bad
Treasurys are weak
The Dollar is down
Foreign demand for treasurys are down
But yet the markets are up, at this writing the Dow is up 149 pts. What gives, or is there no correlation between economic developments and the markets? Please shed some light on this!
The Empire State Index is negative for a 3rd straight month.
The "Home Builder Index" was again bad
Treasurys are weak
The Dollar is down
Foreign demand for treasurys are down
But yet the markets are up, at this writing the Dow is up 149 pts. What gives, or is there no correlation between economic developments and the markets? Please shed some light on this!