Having said that, I think that most people should have a realistic view that the financial markets are in dire straits, relative to thismacro environment with what is going on with currencies, what is going on with the global economy and significant government intervention in the west, in Japan, in those markets and in those economies.
But beware: with little macro data to feed the frenzy this Friday, we should expect some prudent risk pairing as we head into the weekend without a solution.
The other thing is all the macro figures are subsiding and we started this year with China doing an abrupt halt in the lending lasting the days of January.
Morgan this morning provided new forecasts on 2012 IT spending, with Morgan taking a grimmer fewer, citing macro weakness in Europe and elsewhere takes a toll.
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