Tag Archives: Crash 2 : Only One Leg On The Stool Is Still Working

John Ward – Crash 2 : Only One Leg On The Stool Is Still Working – 25 June 2013

John WardBond spikes + sell-offs: a wicked brew

Even Dan Hannan was moved to tweet today, ‘Cold turkey: the rise in UK 10-year gilts has now reversed the entire drop since the start of QE2 in October 2011′. Obsessive Anglospherist or not, it cannot have escaped Dan’s attention that the precise same thing was happening around the world yesterday. It has been pretty much since Bugs Bernanke said “That’s all folks!” last week, declaring the age of QE to be over. Although it often appears that Mr Bernanke’s public catatonia is the result of taking too much medication, the bloke is far from being dumb. Stubborn, yes; narrow, yes; stuck in a comfort zone, yes: but not stupid. Continue reading