Sunday, January 10, 2010
Risky assets leap into new year
Back from the festive season break, traders pushed stock market indices to new highs for the rally, logging a full house of five up-days for the S&P 500 Index and pushing the CBOE Volatility (VIX) Index down to levels last seen pre-Lehman in 2008. Pundits shrugged off Fridayâ€™s unexpected decline in non-farm payrolls, focusing instead on the Federal Open Market Committee (FOMC) maintaining its â€œextended periodâ€ stance for easy monetary policy, i.e. more â€œjuiceâ€ for risky assets.