‘Nirvana’

The MSCI All-Country World Index pared an earlier gain but remained at about its highest-ever level.

That’s from Bloomberg this morning and it not only describes markets on Thursday, but is in fact a nice, one-sentence summary of the state of things more generally.

Something like this: “The last vestiges of two-way price action crawled around on the floor zombie-style, gasping for air and using their one remaining arm to drag two bloody stumps where their legs used to be, but ultimately, risk assets ‘remained at about their highest-level ever.'”

Stocks go up, bonds go up, volatility remains suppressed, and when push comes to shove, there’s always this:

  • KURODA: BOJ WILL PERSISTENTLY CONTINUE POWERFUL EASING

Here’s what that looks like in chart form:

Nirvana

We’ve got a good thing going on here, now don’t fuck it up, Mario.

Because see that white line in the chart? Yeah, well the fate of its trajectory hangs precariously in the balance and Kuroda has done his part:

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