The news cycle, which usually is designed to stoke investors’ fears and panic, is actually turning more positive now. The storylines are changing to observations of “a slow but continuing economic recovery”.
We need the psychology to change to the positive to make up for the ongoing bad news out of Europe, and as PIMCO’s El-Erian says, to offset the “headwinds of Congressional dysfunction”.
Hopefully, this news cycle can help repair investor confidence.