Asian Markets Jump on the FED’s 'Untapering' or QE extension

The mainstream meme has always been that stock market prices are driven by so-called backward looking “fundamentals” or "earnings"

So what explains today’s massive concomitant jump in the prices of many of Asian-ASEAN equity benchmarks? (chart from Bloomberg)

Or how about the enormous rallies  by Asian-ASEAN currencies? (Bloomberg)

Their economies suddenly boomed overnight?

Yet all these seem as in response to the FED’s calling of the taper Poker Bluff.

The reality is that all these stock market-currency market movements have been representative of the pricing of distortions brought about by FED and other central bank policies that has nurtured the market's addiction to low interest rates environment and the subsequent credit fueled asset boom that has largely little to do with “fundamentals” or the real economy.

Europe’s parallel universe should be a prime example.

What really has been a bubble has been misconstrued as a boom. Eventually booms end up in busts and crises as have been through history.