What Happened In The Fall Of 2010?

A funny thing happened in the fall of 2010. Global equity markets went from the relatively 'normal' reflection of fundamental trends in earnings to an entirely disconnected 'keep equity valuations high at all costs' centrally-planned environment divorced of fundamental support (no matter how many times we are told 'stocks are cheap'). What happened and who broke the markets 'saved the world'?

 

 

Hint: ryhmes with 'who he blew'

 

Source: Bloomberg Chart of the Day

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