Ben Bernanke, head of the United States Federal Reserve, has had to inject a lot of money into the US economy in order to keep it crawling along. But his strategy is finally paying off. Good jobs figures and small business sales continue to show that the world's biggest economy is on a road to recovery as stocks surged again yesterday on both sides of the Atlantic.
The gains are so sharp that fears of the fiscal cliff have all but gone away. In Europe, the German stock market (DAX) was 0.6% away from hitting an historic high, which could mean a beginning to the recovery in Europe. Spain's stock market (IBEX) was close to exceeding its annual high as it finished the day at 8,657 points. These results confirm renewed investor confidence, and it looks like the trend will continue at least for now.
