Meanwhile, In Argentina

It seems that bubbles can pop? No matter how much a nation tries to destroy its economy, raise its inflation, and devalue its currency – equity market corrections occur… Argentina’s MERVAL index (among the best performing equity markets of Q1) is now down 12% in the last 4 days (since we discussed this tongue-in-cheek comparison to Japan) – that is an annualized rate of loss of 100%… Of course, if you were to ask the Argentinian politicians, this drop is actually a rise – and we note that the official (and unofficial) exchange rate has not budged during the last few days.

 

 

As the world stays with the Nikkei…

 

Charts: Bloomberg

    

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