Of course, we all know a lot of the feel-good pricing of assets has to do with the knowledge that central banks are just incapable of weaning themselves off the loose, looser, loosest for long, longer, longest liquidity policies. And if they can’t bear to part with this addiction, the global economy and corporate decision-makers won’t be able to either. We act as we are incentivized.
I assume we’ll get more of the same from the long list of Fed speakers on today’s schedule: “Everything is going well but know we are here to protect you.” Correlation is not causation… especially when your salary depends on it…
