Sunday, April 23, 2017 7:35:19 AM
Why "Nothing Matters": Central Banks Have Bought A Record $1 Trillion In Assets In 2017
April 22, 2017
A quick, if familiar, observation to start the day courtesy of Bank of America which in the latest overnight note from Michael Hartnett notes that central banks (ECB & BoJ) have bought $1 trillion of financial assets just in the first four months of 2017, which amounts to $3.6 trillion annualized, "the largest CB buying on record."
As Hartnett notes, the "Liquidity Supernova is the best explanation why global stocks & bonds both annualizing double-digit gains YTD despite Trump, Le Pen, China, macro..."
And for those who have still not seen it, here is the only chart that matters.
Finally, as a reminder also from Hartnett, any time the central bank punch bowl is taken away, an unpleasant "financial event" inevitably happens.
http://www.zerohedge.com/news/2017-04-21/why-nothing-matters-central-banks-have-bought-record-1-trillion-assets-2017
April 22, 2017
A quick, if familiar, observation to start the day courtesy of Bank of America which in the latest overnight note from Michael Hartnett notes that central banks (ECB & BoJ) have bought $1 trillion of financial assets just in the first four months of 2017, which amounts to $3.6 trillion annualized, "the largest CB buying on record."
As Hartnett notes, the "Liquidity Supernova is the best explanation why global stocks & bonds both annualizing double-digit gains YTD despite Trump, Le Pen, China, macro..."
And for those who have still not seen it, here is the only chart that matters.
Finally, as a reminder also from Hartnett, any time the central bank punch bowl is taken away, an unpleasant "financial event" inevitably happens.
http://www.zerohedge.com/news/2017-04-21/why-nothing-matters-central-banks-have-bought-record-1-trillion-assets-2017
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