Today's quote of the day comes from Carole Laulhere of SocGen's Forex and rates corporate reserarch.
“I’m so glad I live in a world where there are Octobers” L.M. Montgomery, Anne of Green Gables
Comparisons of October 2012 with 2009, 2010 and 2011 may not prove terribly relevant for a variety of reasons but just like in L.M. Montgomery’s novel, despite the dire situation in the euro periphery, optimism and imagination have helped markets to see the best in things.
And to think it was only 3 years ago that we said to ignore corporate 10-K and Qs, and instead only focus on such central bank flow reports as the H.4.1. and H.3. We have reached the singularity point where nothing else matters but who pumps what, when and where. That and "optimism" and "imagination" of course.