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Monthly Archives: March 2019

Note to Central Bankers (reprise)

Since my last warning of inconvenient reality beginning to happen (March 6th): The Fed has formally backed away from any more rate hikes this year, committed to ending QT by September, and threatened to expand the balance sheet again (more QE!). The ECB has announced a new (3rd) LTRO program and threatened to do more if need be. The PBoC has threatened to do […] Read the rest of this entry »

ECB hears the message and spikes the punch bowl

This morning the ECB announced several new supportive policy measures (punch bowl spiking) to prevent the stock market from dropping -ahem- maintain the efficacy of its monetary policy transmission mechanism. The Greedometer algorithms continue to warn when central banks need to spike the punch bowl or risk the possibility of price discovery and actual market based mechanisms inflicting reality. No, the ECB is not […] Read the rest of this entry »

Note to Central Bankers

Hello Fed, ECB, BoJ, PBoC, SNB. At least one of you must threaten to spike the punch bowl this week. Otherwise reality will start to happen again.