If you do the math there, that means that in the space of just two years, there was a ~$400 billion decline in reserve accumulation from oil exporters. That’s “QT” – depending of course on what they’re accumulating.
Nobody pull the wrong block.
You can’t make this shit up!
“That’s one small step for rich people and corporate ‘citizens’ and one giant leap for Republicans who can’t get shit done”…
But this is the kind of thing I’m talking about when it comes to markets not appreciating the extent to which everything is now tied up in self-feeding dynamics that no one appreciates.
“We must be prepared for volatile stock markets, and can not expect such a return every quarter.”
“Truth is, a lot of things are in play, and you have to start thinking about it before you’re forced to chase it.”
“We don’t have any views on whether the market is priced high or low, whether bonds and stocks are expensive or cheap.”
Well, I’d say “it’s quiet out there,” but that’s cliché. So how about this: “ain’t shit shakin’ but the leaves in the trees“. Ok, maybe a few things happened while you were asleep. But not much. Let’s walk through some things. We got China PPI and CPI, with the former printing +5.5% for June, in…