QT is the equivalent to 4 fractional interestrate hikes and liquidity destruction. As inflation really picks up, QE will not be a viable option. The equity markets could be sacrificed.

#QT is the equivalent to 4 fractional #interestrate hikes and liquidity destruction. As #inflation really picks up, #QE will not be a viable option. The equity markets could be sacrificed.
Chart via @crushthemarket pic.twitter.com/QidgKSzmUX

— OW (@OccupyWisdom) May 22, 2018

h/t OccupyWisdom

Even Emerging-Markets Bull Mark Mobius Sees More Pain Ahead

• That’s creating fertile ground for stock pickers, he says
• India, China offer ‘incredible opportunities’, Mobius says

Euro Zone Economy Slowdown Sharper Than Expected in May

Euro zone economic growth slowed much more sharply than expected this month, a business survey showed, which along with weaker inflation suggests a stiffer policy challenge for the European Central Bank ahead.