"Once a central bank ventures into fiscal policy, it is likely to find itself under increasing pressure from the private sector, financial markets, or the government to use its balance sheet to substitute for other fiscal decisions." -
"It doesn’t do anything to increase productive output of the economy. It does stimulate the markets. It makes stock prices go up. So clearly, there’s an interest for that. But that doesn’t help the actual economy. "
A subpar, tailing auction driven by the recent reflation scare, although if inflation is indeed on its way, coming long-bond auctions will be far uglier.
...is financial meltdown taking society down... I do think we are reaching some key moments in finance where the consequences of past action are coming due.
"With the addition of Eaton Vance, Morgan Stanley will oversee $4.4 trillion of client assets and AUM across its Wealth Management and Investment Management segments."
Trump last night declared that he wants everyone who needs the treatment to get it, and added that the White House wants to "make it free for everyone."
