Matt King: “We Are More Reliant On Central Banks Holding Markets Together Than Ever Before”
by Tyler Durden
ZeroHedge.com
Aug 7, 2017
Two weeks ago we summarized the stunning impact that ECB Predit Mario Draghi’s ‘whatever it takes’ efforts have had on European capital markets in one simple chart…
… which as Wolf Richter showed on Friday meant that European junk bond yields are now on top, if not lower than 10Y US Treasurys, indicative of a market that has “gone nuts” largely thanks to the ECB’s daily intervention, which as reported moments ago, now holds €103.39BN in Europe’s corporate bonds, or nearly 13% of the total outstanding.
The Rest…HERE
