The holiday-shortened Thanksgiving week brought investors an additional item to be thankful for when stock markets closed higher for five consecutive trading days – a rare winning streak last accomplished in July 2007. Worrisome economic reports were cast aside by equity bulls, arguing that the bad news had already been priced in. However, US Treasury Note yields were less sanguine and fell to its lowest level on record.

Although there is not yet conclusive evidence that we are leaving the corpse of the equity bear behind (especially with Q4 earnings disasters looming in January), it would appear that the nascent rally could have more steam left.

That’s the way it looks from Cape Town.