BOBBY MCFERRIN CONSENSUS (Positive Consensus/Bear Market Indicator) Economic news coverage more optimistic
May 15, 2015
Despite many economic clouds on the horizon, the media continues to feel quite chipper about the current state of our economic existence. News coverage of the global economy turned much more positive in April with the U.K. showed the greatest improvement.
“The Absolute Strategy Research/Wall Street Journal global composite newsflow index increased to a seven-month high of 55.3 in April, from 52.4 in March. An index above 50 denotes a net positive news coverage on economic topics. The U.S. newsflow composite index advanced to 57.5 last month from 55.3 in March. April’s also was the highest U.S. reading since September.
The analysts at ASR also said the monetary policy newsflow index increased for the third consecutive month. Central banks arond the world have undertaken fewer easing moves lately and that has lifted the policy index so far in 2015.
Regionally, all six composite indexes increased in April. The brightest spot was the U.K. The nation’s composite newsflow index jumped 6.7 points to 58.8 in April. The revenues index–which covers stories on corporate revenues and sales–rose to its highest level in more than four years.”
In the newsrooms everything seems to be OK. Greece leaving the Euro? Pshah…Uber is valued at $50 billion. Bond market getting slammed? Whatever….Picasso paintings are going for top dollar. What was the name of that Bobby McFerrin song? Don’t worry be something? It must be playing in an endless loop in the media's business news departments these days. Unfortunately when the media gets wind of a concept and runs on it, it usually is on its last legs but hey don’t worry…