Compared to the recent policy fireworks, things have been a bit tamer this week, yet, as Goldman Sachs head of hedge fund coverage, Tony Pasquariello, notes, China kept the fiscal tease alive (stay tuned tonight for another potential surprise) and another central bank cut 50 bps (RBNZ).
Bigger picture, recent months have featured a lot of volatility in the dominant market narrative:
from a blowoff top in tech stocks in July...
...to the VAR shock of early August...
...to the central bank bonanza of Septembe...
to a mixed bag since then (witness NDX +4% vs RTY -1% following the Fed cut).
