Week InReview: January 17, 2020

Sometimes it doesn't pay to state the obvious.
"Well the cat's out of the bag. The worst kept secret in the financial world is now not only accepted orthodoxy, but finally being discussed openly by, at least some, authorities. Central bank policies are directly driving asset prices and the bubbles therein. It's what they do. It has been so stunningly obvious that, at this point, it makes a mockery of things to deny it as an ongoing, and essential, part of how their strategy is implemented. Oddly enough, however, it's a revelation that is, apparently, coming late to many people with a lot of savings and nothing to show for it. And it is an undeniable factor in this January's price action."
Richard K Breslow, Trader's Notes
— Bloomberg Government

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