Dow gained 149 points (1%) on Wednesday when it was reported that the U.S. first quarter GDP grew at only 1.8%, which was 0.6% below the anticipated 2.4%. With the economy slowing down, investors do not expect the Federal Reserve to scale back its US$85 billion a month in bond purchases. So, bond prices rose, bond yields fell and equities were up.
The gain is only a rebound, Dow will continue to move towards the lower trend line.
When Dow is OK, Asian markets rebounded today.
Email from Japan
A bit dissatisfied that I did not manage to see Mt. Fuji yesterday, I set out first thing in the morning to look for it (before the cloud does its thing again). We boarded a cable car and Mt. Fuji was nowhere in sight. Then, suddenly, it appeared.
Wah, so grand. Since the other mountain that we can all relate to is the Matterhorn, I will just say this - Matterhorn is like Armani, angular and sharp. Mt. Fuji is like papa, rounded and comforting. Somehow when I see it, I think of a father, and when I think of a father, I think of my papa.
Mmmm..... I am like Mt. Fuji. I think Mt. Fuji should look much better.
Mmmm...... with reflection - So elegant.
Rather lonely under the moonlight - A lonely papa.
This is much better, with beautiful flowers all around - A romantic and happy papa :) with mama around.
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