"The facade will end when balance sheet cuts expand to a point at which buybacks cannot keep up and the slack in markets grows too fast. Or when stock buyback cash runs out (probably by the end of this year). "
As Chinese financial conditions further deteriorate and market stress worsens, we actually / perversely push CLOSER to the “RISK-ASSET POSITIVE” outcome of escalated PBoC stimulus- and easing- measures.
In the summer of 1821, a roguish Scotsman named Gregor MacGregor arrived by boat in London, and initiated arguably the most audacious confidence scam in history...
Turkey issued a key challenge to its NATO "puggybank" ally the United States today, when a Turkish court ruled to keep imprisoned US Pastor Andrew Burnson in jail, quashing speculation that he would be released after a hearing on Wednesday.
Global stock markets were firmer on Wednesday, supported by Tuesday's euphoric tone when not even the Netflix debacle could hold back the Nasdaq from hitting a new all time high.