Biotech Values

[zipjet]

>>The main reason the markets are sitting at all time highs rests solely on the hope that the worlds central bankers will keep the stimulus faucets flowing.

Won't they?

Rosengren made it clear (his view) that the Fed will begin buying MBS and reduce payments on free reserves step wise to 0. His stated bogey for ending QE was sustained nominal GDP growing 4.5%. We have a long way to go to get that GDP growth rate.

With a dysfunctional Congress, the Fed has no other sensible choice given the dual mandate.



ij