"In the last 48 hours, we’ve seen some of the biggest ideological rock-stars of the central-market-planning bubble come out singing," Hedgeye CEO Keith McCullough wrote in this morning's Early Look. In case you missed it, here's a quick wrap up of the soothing words uttered by global central planners over the weekend:
- Japan is pushing greater cooperation from its G7 partners to soothe market jitters, government sources say.
- Mario Draghi and the ECB stand “ready to do its part,” i.e. the central bank could unveil further stimulus measures next month.
- Meanwhile, Saudi Arabia and Russia have agreed to freeze oil output in a meeting in Qatar.
What happens when the market no longer believes them? What happens when the music stops?
It's getting crazy..
As the expression goes ... "May you live in interesting times." Rest assured this monetary policy gong show is going to get more interesting as reality sets in.