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From the global bubble perspective, it was one extraordinary quarter worthy of chronicling in some detail. The "Everything Rally," indeed. Markets turned even more highly synchronized - across the globe and across asset classes. As the quarter progressed, it seemingly regressed into a contest of speculative excess between so-called "safe haven" sovereign debt and the Bubbling risk markets. It didn't really matter - just buy (and lever) whatever central bankers want the marketplace to buy (and lever): financial assets.
March 29 - Bloomberg (Cameron Crise): "While the total return of the S&P 500 is going