The Loudest Warning Yet: “This Stage Should Lead To Increased Risk… System Less Able To Deal With Such Episodes”
by Tyler Durden
ZeroHedge.com
08/06/2014
“Suppression of yield and vol induces investors to take on more risk (QE III). The market clings to perception of certainty regarding outcomes, despite the Fed shifting commitment modes from time or level-based to data dependent. This stage of policy should eventually lead to increased uncertainty and risk.” Translation: the TBAC itself – i.e., America’s largest banks – whose summary assessment this is, is now actively derisiking.
The Rest…HERE
