This is what I have called the 'new economics' in the past. While the CBs have a have the tigers by the tails everything's ok. Asset bubbles the norm, Treasuries down to 60bps but won't go lower so forget negative US interest rates. The floor is in.
How odd. The CBs have been and are now trying to induce inflation to reverse a monetary policy setting but are praying it won't work. It's a bit like betting that you'll lose your race.
They have set a nice trap for themselves and we are the bait.
