The End Of QE Will Always Devolve Into This Sort Of Incoherent Mess

That was a circus. These things are typically ungraceful to begin with, but this one was in a class by itself. Mario Draghi, the leader of the rudderless ECB, was in top form today. For pure entertainment value, he couldn’t have done better. People think that’s not the job of a top central banker, but it is! Monetary policy long since stripped of any money in it remains solely reduced to expectations management.

Thus, the circus.

Everyone knows Europe is in trouble. Even the most optimistic globally synchronized growth peddlers have taken several steps back. The global economy sits upon a stall already; even President Trump has taken a break from the boom stuff.

Earlier this week, Eurostat revised Q3 2018 GDP across much of the Continent. For the EA 19 unit, growth was just +0.15% Q/Q, or an annual rate of 0.623%. To put that into perspective, quarterly growth in Q4 2017 was more than last quarter’s yearly rate.


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Bloomberg21 hours ago
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Liquidity Fears Have the Likes of Pimco Sheltering in Credit Swaps

Bloomberg22 hours ago

Credit risks are growing global because central banks are tightening monetary conditions and ending years of easy money that boosted corporate bonds almost ..

Japanese Banks Fueled the US Leveraged-Loan Boom, UBS Says

Bloomberg7 hours ago
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US commercial, multifamily mortgage debt hits new high in Q3

Xinhua19 hours ago
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Japan’s fiscal 2019 budget draft to total around $894 billion: sources

Reuters6 hours ago
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Canadians’ household debt burden creeps higher

National Post1 hour ago
In other words, Canadians owed nearly $1.78 in credit market debt, which … quarter as households borrowed $18.3 billion, down from $20.0 billion in the …

US budget deficit hits record $204.9 billion for November

WBRC20 hours ago
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Oregon lawmakers get a taste of possible tax hikes in 2019

OregonLive.com1 hour ago
… in the Oregon Legislature are gearing up to raise billions of dollars in taxes next year to boost school spending and cover ballooning public pension costs.