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Nomura’s McElligott Explains The ‘QE-Like Stasis’ Of An ‘Everything Works’ Market

So, is there any risk? Well, yes.

So, is there any risk? Well, yes.
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2 comments on “Nomura’s McElligott Explains The ‘QE-Like Stasis’ Of An ‘Everything Works’ Market

  1. fed is putting liquidity into the markets…..prices go up, thats about all one needs to know. now “the economy” is another topic. it seems over the past several days, prices moving up have encouraged people to say that it indicates a bottoming of the global economy…while we wait for any data to support this to come in. muted, not-growing, no-falling data is most likely given china credit impulse over the past (lagged) 6 months. so how long will investors wait for ‘growth around the corner’. junk at all time highs, while 90 day auto lates is at 2009 levels and climbing. earnings down on the back of margin/labor exp, concurrent very slow econ growth, yet stocks up 25%, like 2014 which led to 15 months of flat with a -10% thrown in at the end. xmas season so far spending is down. so where exactly will the earnings growth come from if manufacturing is in a coma, and the US consumer is ‘budget-minded’? bullishness and morning gap ups feel like dec 2017 or dec 1999 (both got an extra kick of ‘insurance’) both didnt last to see pitchers report for training.

  2. It was the end of not just another year but a decade not like many others…. None the less it was over… The Beach was abandoned ,surprisingly for the time of year the good news being an end to the seemingly incessant clatter of the past days and months.. …the bad news was that the sunshine appeared to be in jeopardy from the storm clouds over the ocean… The good news was they appeared to be heading in any other direction who really knew after all. Actually no one really cared because the only two left on the beach were the gorgeous Tina Fomo and of course myself…Having just read Charlie’s prognostications I felt as well prepared as probably Ulysses was for the Sirens…What more could one ask for ????

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