‘Bazooka = Sell’: Markets Implode On Central Banks’ Coordinated Panic

‘Bazooka = Sell’: Markets Implode On Central Banks’ Coordinated Panic

Risk assets were in all kinds of trouble on Monday as markets seem to be both underwhelmed and overwhelmed by central bank actions aimed at shoring up confidence and cushioning the blow to the global economy from COVID-19 containment efforts. Underwhelmed because monetary policy is inherently inept in the face of biology and mandatory shut-ins across major economies. And overwhelmed because the scope of the policy reaction and the hasty character of the Fed's "all in" push on Sunday evening see
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