Two headlines this morning. This from the FT:
And this from the Guardian:
Only one of these expressions of confidence or a lack of it can be true given the role of the US in the world economy.
Neither markets or the IMF have great track records. But I know which I am much the more inclined to believe.
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Investors are on a high through compression of bond yields by central banks..if QE is no longer used and Govt bond yields drift higher then weight of money will move towards treasuries etc thereby forcing corporate bonds and equities lower..whether this forces or constitutes a crash we will see but markets never move in a linear fashion, how can they? They try to discount future events but no one has a crystal ball. Bull market and bear markets are generally unpredictable except perhaps for the recent QE inspired bull market although the longevity has surprised many i think.
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You could get really depressed reading this stuff. Good job I’ve good a good supply of single malt stockpiled.
I think the Betty Ford clinic needs to open a wing for those who are addicted to casino banking.
And quickly by all accounts.