Judging by the impressive demand it was the latest indication that the Fed's message that no rate hikes are coming any time soon, was heard loud and clear by the market.
Markets seem to be going through a generational phase shift, and not necessarily for the best... a culture that is leading itself away from prosperity and towards the abyss, and I’m helpless to stop it...
"the central bank may face the risk of getting trapped in a never-ending monetary accommodation even when real economic activity is strong or when financial stability risks accumulate."
Earlier in the summer, the NYSE had made a similar request. The move seems to indicate sure-fire demand to step away from traditional IPOs - and the high costs associated with the traditional method of going public...
"It's called 'trust'... Trust in money, over the very long term, has been a fickle thing. No paper money has survived time, while gold has. Gold is history's trusted 'store of value'..."
The BEA unveiled in its first revision of GDP that the historic Q2 slowdown was just modestly better than expected, coming in at -31.7%, beating expectations of a -32.5% number.
All that central bank liquidity and rate repression is starving the markets of the oxygen of common sense – hence the current hypoxic euphoria... It can’t last forever.
