Momentum and the markets

Interesting trend emerging over the last few days on the Iowa Electronic markets (more description here and here)

So, whatever the candidates do and whatever the polls are saying, the markets seem to have decided that everyone else thinks that Sen McCain is down and out

This is a function of that thing that all politicians seek – momentum: the sense that folk around us are moving in a particular direction.

Which is what we've been seeing on the financial markets recently….

More of that shortly