The S&P 500 is now up over 15% since October 27th. And the Santa rally markets have been experiencing since just before Thanksgiving continues even after he dropped his presents around the world on Monday and faces the Boxing Day hangover. As Goldman's Chris Hussey notes, a combination of... • strong consumer spending in stores (12/14 - Retail sales accelerate in November on sequential basis), • a rapid deceleration of inflation (12/22 - Core PCE Inflation falls further), and • a dovish tilt from the Fed (12/13 FOMC dots and the market shrugging off the post-FOMC jawboning) ...have all contributed to an extremely ... (full story)