When a market can't even get excited about a blow-the-doors-off surge in U.S. gross domestic product, you know something's up. Or, rather, something's gone up as much as it's willing to go for now.
Stock markets pretty much just lay there like a beached whale after the U.S. Commerce Department trumpeted a stunning 7.2-per-cent annualized rise in GDP for the third quarter. No matter that the number beat even the most rosy of expectations, the markets refused to budge.
It's a pretty strong signal that this is a market that has risen so far, so fast that it's moved beyond "What have you done for me lately?" Now, it's "Lately was all fine and good, but what will you do for me next?" The stock markets have already placed their bets on a robust economic recovery in the second half of this year.
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