Personal commentary Yesterday – I saw fear, not unlike that of 07/08 – very real… very palatable The trader side of me says – yeah baby The normal side of me says – I hope to hell I’m wrong Yet to be seen if/when buyers are willing to step back in with conviction Time will tell (it could get ugly quickly) RN
Global markets priced in 85 billion QE, monthly. Bernacke and now Yellen Fed announced taper, and seem to be committed. Global sell off is a reflection of market pricing in future expectations at 30-85 Billion LESS QE, per month. This is deflationary across all asset classes/markets. IOW, this should be the start of a decent global correction. European and other insolvent nations teetering, could be pushed back into crisis. At least until Yellen/Fed make overtures of taper pause, and/or restart. My 2cents. Edit: watch headline numbers and earnings announcements. All will start to disappoint.
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