The worst is over for the emerging markets, but the road to recovery will be rocky.

The election is over -- but the battle for the Senate and the Treasury is still being fought.

This recession will end like they all do -- when risk premia coax capital back to work.

Good news for markets -- Obama's meeting of economic icons produced exactly nothing.

Core CPI prints negative, and the Fed openly uses the "D" word.

Even financials are now deeply undervalued, for the first time in this bear market.

Non-investment grade bonds are pricing for default rates that aren't going to happen.

Citi gets TARPed again, and Treasury gets policy continuity for the TARPs still to come.

Safe haven or mo-mo trade, at this point it offers little potential upside and much risk.

The rescues are working, and Obama moves to the center -- but the Big Three are going to re-open the wounds to market confidence.