From Seekingalpha.com: This was a strange week where U.S .equity markets fared badly, except for Friday’s closing half-hour. The German and UK markets, which closed up on Friday, missed the full extent of the late session rally in the U.S., and so closed down on the week.
The U.S. retail stores sales data was terrible. Traders are not thinking mañana; they sold Consumer Discretionary stocks (XLY) down -8.8%. Bankers too were being squeezed as T-Bill yields dropped almost to zero (annual yield of +0.22%). People fall into two camps: (i) no money, or (ii) unwilling to risk the money they do have….. Full Article: Source