If you are referring to the recent rally in equities I don't think it has any fundamental basis. Personally I believe the moves since the start of the year have been all about transferring money from main street to wall street, that's the game.
Colombia notches all the way up to 6%, market freaks at .25% hike from Fed, ECB giving out coupons at the door to all comers and Japan now at negative rates...something very amiss here...very disjointed world economics. me thinks the central banks have over-stayed their welcome, played their last hand and are now in panic mode....losing much, much credibility as time moves forward here. markets extremely volatile, relative value starting to finally move closer to actual 'net present value'...bubbles bursting all around, like some discarded balloons left over from last year's big bash...bag holders all around, still clutching at worthless paper. What was that song Don Meredith sang towards the end of each MNF game? Waiter, Check Please...
I know, right. A bit of sovereign wealth liquidation and then some short covering. It always amazes me how so many people assign these events (that conveniently fit the narrative) to market moves. I guess they get that from the networks that do the same thing. Just because something happened, it doesn't mean the market moved in the direction it did because of that thing. In fact, it often has nothing to do with the direction the market moves on any given day.
Indeed, the networks jobs is to make news out of events. People in general do this a lot, magicians and con artists rely on everybody else's abilities to make up colorful explanations out of thin air.
Any time you can dispense with stock selection and just focus on etf's, that's considered volatile in my book. And that's what we've had in january. Vix got near 30. Not out of the way historical highs, but enough to change what you can trade.
What I don't understand is how ET bitches about the lack of volatility for years then when we get it, they don't understand it. There is nothing unusual about this market. This is how the market actually use to trade many years ago.