An average workday in New York City, circa 1918.
Seems like not so long ago, the markets moved every day on “geopolitical concerns.” Overseas news topped the daily headlines, and as crude made its brief but spectacular ascent to $145, every headline seemed to bump it a little higher.
Then the bottom fell out of the housing market, and the financial market, and autos, and retail, and you get the picture. We stopped caring about what was happening overseas; most of us, anyway. There was Lehman’s collapse, and AIG’s, and Bernie Madoff.
Now, with reports that GM’s preparing yet another restructuring plan, and with everybody still stress testing the stress tests, maybe Mr. Market won’t take time out of his busy day to consider non-equities related stories. But something tells us you might start hearing more about “geopolitical concerns” soon. Like today (especially if you live in New York.)
