“The bad news is that we are in a recession, and a fairly deep one at that. The good news is that the stock market has already discounted a depression,” said Jeff Rubin, CIBC World Markets chief economist and chief strategist. “That's why no matter how severe the recent non-farm payroll losses are, the stock market soon shrugs it off.”
(...)
“Stocks can only cheer as businesses and households will be force-fed stimulus money from governments that will no longer care about deficits,” he said. “With the market having set the bar so low insofar as the economy is concerned, the slightest pulse in second-half growth should send the TSX climbing to 11,000 by year-end.”
(...)
He also predicted that oil prices should rebound, along with the markets.
“If $40-50 per barrel is the price of oil in a deep global recession, it shouldn't be too hard to figure out why our portfolio is four points overweight energy stocks,” Mr. Rubin said.
Tiré du Globe, qui vient tout juste d'annoncer la mise à pied de 10% de ses employés !
La puissance de la rationalité de la bourse m'étonnera toujours.
En passant, le prix du baril est passé sous la bar des 40$ cette après-midi..., désolé Jeff.
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