The coordinated effort of the US Fed and ECB to dampen hopes over both continuing further interest ratre cuts and our own disingenuous snippets from the minutes is a drag.
Why do you think they imply their new dovish remarks?
They know China is heating up their cooked bok choi. And if the world(China)and tailwinds (emerging markets) move higher, the constituency among the banksters must beat the drum of hear comes inflation, and here comes higher productivity.
The numbers don't justify heating up anything. Re-fried beans have always been re-fried beans. All they cause is gas. You get that full feeling and then, bang. Ya gotta eat again.
They'll continue to kick the can down the road, even when they tell you they got no cans to kick.
Watch the yields on 10 yr and watch the spreads.
And watch the Yen and importantly, the yuan.
Game continues for bankstas. Little guys are still out and will be late to the games.
Oh.....and for those who don't like to decipher quasi, sarcastic implications......here's what it all means;
net, net , net....the currency wars impact EVERYTHING.
Always remember what I've said about veal chops.
Pretty soon, they won't even be on a menu.
All countries know the game.
How do you compete with the safest, most influential currency in the world and at the same time that currency shrinks faster than taking a cold shower?
Here's a very telling early measurement of things to come;
Hot off the presses;
Stock mutual funds had net INFLOWS for the first time in what, 2 years or more?
Aunt Sophie is finally looking for a better return than Bank of Tuscaloosa.