It is striking to me how underappreciated stocks are as an income play in the face of bond yields which are comparatively unattractive, particularly if reflation comes back in full force as it did during the first quarter of this year...Europe looks more and more committed to preventing a collapse, and SuperBen and the League of Extraordinary Bankers continuously remind us that they "stand ready" to put their suits on should a potential 2008 event occur. All of this I believe still makes equities the place to be among all other areas of the investable landscape. It's good to see Financials rally off of Moody's bank downgrades. Buying on bad news is generally a good thing. ------Trader musings, prop. source
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