The Central Banks are getting desperate. The interventions are so obvious now you’d have to be on drugs not so notice them.
On Monday afternoon, at 3PM “someone” stepped in to prop up stocks. They did it again yesterday at 10AM. These were obvious interventions.
How do we know this was intervention and not real buying?
Because no real buyer guns the markets 20+ points higher in a matter of minutes.
WTI Crude futures are tumbling as Yellen's prepared remarks offered little for the doves and played down growth due to "financial strains." Back in the red after some overnight hope from Europe, WTI is back to a $27 handle once again...
With world markets begging for moar, Janet Yellen's prepared Humphrey-Hawkisn Testimony was a disappointment:
One week ago, in the aftermath of Japan joining the NIRP club, we wondered how low Kuroda could cut rates if he was so inclined. The answer was surprising: according to a Nomura analysis the lower bound was limited by gold storage costs. This is what the Japanese bank, whose profit was recently slammed by Japan's ultra low rates, said:
Back in November, Nils Smedegaard Andersen, CEO of Maersk, the world’s largest shipping company, gave the world a reality check when it comes to global growth and trade.
“The world’s economy is growing at a slower pace than the International Monetary Fund and other large forecasters are predicting” Andersen told Bloomberg. "We believe that global growth is slowing down [and that] trade is currently significantly weaker than it normally would be under the growth forecasts we see."