If you were looking for clarity on anything, today was most assuredly not your day.
“Just when I thought I was out, they pull me back in!”
Let Mario Draghi just be “clear”: he is not convinced that you are convinced that asset prices only go up, ok? Responding to a question from CNBC at a press conference at the IMF Annual Meetings in Washington on Saturday, the ECB chief said something to that effect. Specifically, this is the quote: Let me…
Stay tuned. The ratings will be “tremendous.”
“However, giving up transparency and sticking unconditionally to policy rules, i.e. rebuilding the fourth wall, carries with it enormous risks.”
“Now what do you got? Anarchy. You got anarchy.”
Ok, well it’s Sunday which means, barring Trump wandering into a nuclear war in the next several hours, tomorrow will be Monday. This week they’ll be a lot of talk about…
There’s always tomorrow.
Finally, in case you haven’t had enough of “connecting the dots” today, here’s another exercise for you…
“These risk factors are compounded by what I view as the biggest uncertainty of all: how the global economy and markets respond when more than one systemically important central bank seeks to normalize monetary policies.”
Good luck out there – your fate rests on the shoulders of a diminutive economist with a pixie cut…
Now define “bad.”
Because we can’t do it anymore.
“A telling blow should be dealt to them who have not yet come to senses after the launch of our ICBM over the Japanese archipelago.”
So when it looked like the last, lonely U.S. reflationist was about to throw in the towel, it felt like everyone was suddenly scrambling around to explain why yields were too low – maybe in an attempt to appease the market Gods who are thought to dislike crowded trades.
“History’s verdict on presidents rests more than they might wish on the competence of the Fed during their time in the White House. When it comes to those other Fed appointments, the president would be smart to reflect on what made Fischer such a good choice and strive, for his own sake as well as everybody else’s, to choose as wisely.”