Speaking of massive lies and deception, following Brexit, risks have grown while Global Central Banks "coordinated" to drive an even bigger divergence with casino assets. So enjoy this brief moment of ecstatic dopium-seeking, which for the attention deficit must seem like forever...
We now know that Global Central Banks went "All IN" at a level not seen since 2013 to juice the markets. In the process they sent dopium-addicted gamblers into a fit of CasinoNomic momentum chasing. However, aside from the S&P 500 casino, as we see all other risk assets have succumbed to the law of diminishing marginal circle jerk...
Since Brexit, only the S&P and Nikkei are positive. Global yields have fallen substantially and so have European banks:
We now know that Global Central Banks went "All IN" at a level not seen since 2013 to juice the markets. In the process they sent dopium-addicted gamblers into a fit of CasinoNomic momentum chasing. However, aside from the S&P 500 casino, as we see all other risk assets have succumbed to the law of diminishing marginal circle jerk...
Since Brexit, only the S&P and Nikkei are positive. Global yields have fallen substantially and so have European banks:
China was the big loser
Oil and Deflation have fallen as well...
Europe and Japan were due for a bounce anyways...
The world ex-U.S. is making its third lower weekly high in this cycle...
On the daily view it's the fourth lower high...
JPY bounced but is still below June 23rd...
In other words, sound and fury signifying nothing.
