Exposing The Fed’s CONfidence Game

Original post

Authored by Sven Henrich via NorthmanTrader.com,

The global economic landscape remains weak yet there appears to be no concern on the side of bulls and investors alike, so firm is the belief that the earnings recession that is unfolding is temporary, so firm is the belief that dovish central bankers can once again prevent any downside.

I get it, it has worked for 10 years and it’s worked again seemingly since the December lows. Why pretend it is anything but central banks?

After all Jay Powell is rapidly proving to be the market’s biggest thrust driver to the upside in 2019:

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