Highlights
- With news headlines running away with dire implications of another US debt downgrade, it is important to remember whose opinion matters most in this moment of heightened emotions: the market's.
- A similar negative market response to the August 2011 US debt downgrade is getting all the attention, but few mention that the market bottomed shortly thereafter, making new recovery highs by early 2011.
- We remind investors that headlines have an uncanny knack for getting more and more negative as bear markets end and bull markets. . .
