Why Spoil the Party With the Fundamentals?

Today's investor community does not seem to mind too much chasing over-extended valuations as it bows down to the holy grail of price momentum

Highlights

• Fedspeak drives yesterday’s reversal in equities

• Keep an eye on non-performing loans, with the banks set to report

• State unemployment data say half the country is in recession

• More disinflationary signals — global food prices fall for the fifth straight month