Dow 30

The following article by David Haggith was published first on The Great Recession Blog:

Dow 20,000 teases everyone ahead of The Fed...

http://www.youtube.com/watch?v=FsqJFIJ5lLs

Trannies and Small Caps underperformed as The Dow pushed on once again to new record highs (Nasdaq best on the day)

Stocks were spooked in the last few minutes as The ECB denied Monte Paschi's capital plan...

While The Dow failed to make 20k today, we note it is up over 2000 points from the pre-Trump lows...

With Goldman accounting for over 20% of all those gains...

By EconMatters

The Financial Markets are at all-time highs going into a rate hiking cycle by the Federal reserve, that seems like a rational, logical correlation. Assets often take the escalator up, and the freight elevator down as everybody tries to exit at the same time.

Yesterday's brief hiccup in what has been an otherwise relentless rally in global risk assets is all but forgotten this morning, as European and Asian stocks, and US equity futures, all rise in quiet trading ahead of tomorrow's FOMC meeting, with the Dow set to make a 16th consecutive post-election all time high.

With the Dow Jones just a handful of gamma imbalance rips away from 20,000, the CIO of One River Asset Management, Eric Peters, shares some critical perspective on the market's recent euphoric surge, going so far as to brand what is going on as America's "Massive Policy Error", the biggest in the past 50 years. 

His thoughs are presented below, framed in his typical "anecdotal" way.

Anecdote