“Traders are riding momentum in everything.”
So writes Amrith Ramkumar in the Wall Street Journal.
“You don’t want to fight the Fed, the world’s central banks or the world’s governments,” says Thomas Martin, senior portfolio manager at Globalt Investments, as quoted by Mr. Ramkumar.
Even though many companies are painting a “not-so-good” picture of the economy and of their near-term future, and more and more economists are seeing the recovery not as “V-shaped” but of deeper and longer duration, investors continue to expect that government stimulus programs will “light the way.”