Friday, August 5, 2016

Free-Basing Hot Money: Economic Euthanasia

The S&P 500 is the last recipient of all global stimulus. The money is hot and will leave at the push of a button...

S&P with Central Bank assets (blue) and global yields (red):

Don't worry about getting out. They won't.

Yen carry is being pushed by China and pulled by the U.S. That tug of war is on the verge of ending.