But will the big banks play along?
China has a lot of balls in the air at the moment.
Cash is less of a threat to central bank policies when interest rates rise above zero.
US bank stock index down 17% from January. EU bank stocks crushed, crushed, crushed since Financial Crisis.
But outside Italy, credit markets are sanguine, and no one says, “whatever it takes.”
BlackRock is “a market power that no state can control anymore.”
“The ECB cannot and should not turn a blind eye to risks to financial stability.”
“The global leveraged loan market is larger than – and growing as quickly as – the US subprime mortgage market was in 2006.”
Japan monetized 50% of its national debt. Why has there not been a surge of inflation? And why can’t the Fed restart QE and do the same?
“The tide is going out and investors are starting to worry about which EM economies have been swimming naked.”