We woke up this morning to find the world a happier place.
Japan, from the peak on May 22 to the lows late last week, was down 22% in less than a month. That’s either the technical definition of a bear market or a slow-motion crash, depending on your lens. And yes, it rallied 84% into this bear/crash/correction, so we need to keep it in perspective. Either way, it was up almost 3% overnight, which empowered some bulls.