Why the melt-up is still on

It is cool to be pessimistic. It makes you sound clever. But now it’s hard to justify that stance. 

The muck is still sliding off Teflon-coated markets, pessimists appear to be giving up the fight and the melt-up is very much in play.

The dark days of April, when US President Donald Trump’s whackadoodle global trade policy sent markets careering lower, are an increasingly distant memory.

Part of the answer has to be the monetary and fiscal stimulus busted out by central banks and governments as a response to seemingly every crisis.

Katie Martin FT 5 January 2026

https://www.ft.com/content/cb840ba1-7e4b-4c6c-9e15-e72becfc6d3a


US stocks galloped higher on Monday, as demand for tech shares remained strong even while the ouster of Venezuela’s President Nicolas Maduro fanned worries over geopolitical risk. 

Gold prices also rose, along with oil.
https://www.bloomberg.com/news/articles/2026-01-04/oil-stocks-bonds-futures-markets-latest-on-venezuela-trump-markets-wrap










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