Yellen Kills The Music, Says “Equity Valuations Are Quite High”, Sends Dow Red For 2015
by Tyler Durden
ZeroHedge.com
05/06/2015
Back in July 2007 Citi’s then CEO Chuck Prince, a little over a year before his bank received a gargantuan government bailout said “as long as the music is playing, you’ve got to get up and dance.” Moments ago Janet Yellen just killed the music: YELLEN SAYS EQUITY MARKET VALUATIONS QUITE HIGH
Or, paraphrased, the $4.5 trillion balance sheet the US created, and the $22 trillion in assets purchased by global central banks to keep the dream alive, has lead to “quite high” stock prices.
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