For nearly a decade stocks enjoyed an environment of unprecedented bullishness, where good news was good news, and bad news was even better as it suggested central bank intervention via monetary stimulus, boosting asset prices. But that is no longer the case according to the head of Natixis SA’s $1 trillion asset-management arm who says that volatile equity markets are the “new normal."
A half century ago, I wore a uniform of a different hue. The jungle fatigues and cap were manufactured in only one color, olive drab, which the military still refers to, drably, as Color 107. Unofficially, it was the shade of derision during and after America’s most divisive foreign war.