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Asian shares mostly rise, lifted by bull market on Wall Street

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By YURI KAGEYAMA

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These bank will be a bloody mess,when the second quarter profit are revealed,Chase,Well Fargo Bank of America,Citigroup the usual suspects will have record profit as usual,while others tither on insolvency

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Even though it was driven by so many extremes — the worst inflation in generations and the fastest hikes to interest rates in decades, for example— this most recent bear market lasted only about nine months. It stretched from Jan. 3, 2022, when the S&P 500 set a record, until Oct. 12, when it hit bottom. That’s shorter than the typical bear market, and it also resulted in a shallower loss than average, according to data from S&P Dow Jones Indices.

A good chunk of this bull market’s gains has been because the economy has refused to fall into a recession despite repeated predictions for one. It’s withstood the highest interest rates since 2007, three high-profile collapses of U.S. banks since March, another threat by the U.S. government of an economy-shaking default on its debt and a series of other challenges.

The economy has avoided a recession so far because of a remarkably solid job market and spending by consumers. Hopes also are rising that the Fed may soon stop hiking interest rates.

That is nothing short of amazing. Good job US

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US GDP growth rapidly slowing, only positive due to massive Govt. Deficit Spending. Corporate bankruptcies increasing rapidly as well. Consumer spending falling on any inflation adjusted basis, volumes dropping.

Extreme concentration of market gains, mega tech with AI growth models especially. Top 10 companies +30% of total market capitalization, historical concentration. Broader market, most companies struggling, especially due to increased financing costs.

But it seems no real banking crisis, as FRB's emergency credit line solved bank asset impairment issue. Very strange how LOW Volatility indexes are right now. NOT good leading indicator = LIKELY more volatile soon....

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