Japan pulls the interest rates down, Yen pops. Europe pulls the interest rates down, Euro pops. Beginning to see a trend?
The three questions to take away from PDAC 2016 so far
1.) Who trims Brent Cooks beard?
2.) Who chooses Rick Rules ties?
3.) Do they smile a little more smiley when they are interviewed by Daniela Cambone?
btw: the world is still standing here in Europe although the ECB announced some crazy shit today. I mean everybody is screaming about zero % key interest rate but what is far more interesting in my eyes is that the ECB now buys corporate bonds with Investment grade Rating as well to be able to pump 80 Billion euros in the system. As this is a quite small market with around 500 Billion or so the ECB could end up with a fourth of the corporate Investment grade bond market. Which then would destroy any margins for Banks who would be willing to give loans to companies... Thank good I am not responsible for investing the reserve funds of an insurance company nor the own book of a bank.