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Caught On Tape: The Moment Fundamentals Catch Up To US Equity Markets

As the chasm between earnings (tumbling most since 2008) & macro data (90% misses in February and weakest  in 11 months) and the inexorable rise of the US equity market yawns ever wider, we thought the following clip (from South Korea) perfectly summed up what happens next...

 

"No one could have seen this coming..."

 

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Bad news is good news... until it's not.