The ECB now on the verge of joining the print and buy...

The ECB now on the verge of joining the print and buy party...they are running out of bonds to buy. CB's effectively acting not only as 'permanent plunge protection teams in-being', but actively pushing stock markets higher. Distortion is the order of the day. The world has officially gone mad.

http://www.wsj.com/articles/equity-...st-if-central-banks-started-buying-1473090954

ECB stock purchases “would be justified: European equities are undervalued, while there is a bubble—that the ECB continues to inflate—in bonds,” said Patrick Artus, chief economist at French investment bank Natixis, in a research note.
The Swiss National Bank has purchased stocks for over a decade to diversify its massive foreign-currency holdings. They now account for 20% of reserves.
Another big stockholder is the Bank of Japan. It had ¥10.182 trillion (about $98 billion) in individual stocks and exchange-traded funds as of Aug. 20, in terms of book value. It roughly doubled the pace of its annual ETF purchases to ¥6 trillion on July 29, 2016.
Economists have been split over the costs and benefits. Some say that Japan’s capital market can no longer accurately price the value of stocks; too much BOJ money has flown into some specific companies. Others say it has helped prop up share prices, thus producing “wealth effects” to help the economy fight deflation.

Fight deflation.....they are going down the deflationary plug-hole due to decades of central bank meddling.
The prescription? More of the same.