Stocks shrug of yesterday's cheap money worries
There are plenty of reasons for worry in the stock market. You could look at the ECB as a bit of a watershed, at least for 2016.
Draghi signalled the end of cheaper money for the ECB. The Fed is also signaling the end of ZIRP with a cut. The BOC and RBA aren't even dovish anymore. Even the Bank of Japan is solidly on the sidelines despite many predictions of more cuts from them.
But today the stock market doesn't care. Jobs were solid and suddenly good news is good news as stocks have nearly wiped out yesterday's decline.
To really signal the 'all clear' I think the index needs to close above 2085.
