The USD $ is being perceived as a safe haven. Look at this beast.
Make no mistake, many American companies are multinational corporations that do business around the world. We are not immune from contagion. However, we are relatively strong compared to the developing world and so people are pulling their money out of Emerging Markets and flooding the USD and American Markets.
Compared to Developing Markets, whose assets have been growing slowly, Emerging Markets have been flooded with investment dollars and have nearly doubled in size since 2008
I don't trust this rally one bit. I still think that this energy sector implosion is going to rear it's ugly head into the data sometime in the near future but until then I am focusing my strategy hedged Long America/ Short Emerging Markets.