Markets Begin to Shrug at Obama, Bernanke

Tom Stevenson, TelegraphAfter a decade and more in which investors have perked up like Pavlov's dog at the first suggestion of government or central bank intervention, they heard the pair's orchestrated monetary and fiscal stimulus on Thursday and simply shrugged. Was the "Greenspan put" finally laid to rest last week?After a summer of volatility, a mood of quiet resignation has settled on investors and policymakers alike. The co-ordinated enthusiasm for action that characterised the initial response to the crisis in 2008/09 has evaporated as everyone recognises the political cost and sheer...

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