Interesting article on why the market dropped in Nov 2012 and rebounded up until now:
"In preparation for higher federal taxes, both individuals and institutions took capital gains, received special dividends, and pushed incomes into 2012 where possible (see discussion). And these accounts have been deploying this cash from the beginning of the year - with a big chunk of it apparently going to equities. That should explain part of the equities rally we've had this year."
why-has-us-broad-money-supply-flat.html
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