Developed-world #CentralBanks, particularly the Fed and the European Central Bank, have resumed the frantic pumping of liquidity into their economies.”With that,US stocks are at record highs. “Emerging-market central banks — China, mostly — are not following suit.”

Per @bopinion :Developed-world #CentralBanks, particularly the Fed and the European Central Bank, have resumed the frantic pumping of liquidity into their economies.”With that,US stocks are at record highs. “Emerging-market central banks — China, mostly — are not following suit.” pic.twitter.com/01V8R9EwHk

— Mohamed A. El-Erian (@elerianm) November 16, 2019