By Tyler Durden: One month ago, when observing the record low vol coupled with record high stock prices, we reported a stunning statistic: central banksters have bought $1 trillion of financial assets just in the first four months of 2017, which amounts to $3.6 trillion annualized, "the largest CB buying on record" according to Banksters of America. Today BofA's Michael Hartnett provides an update on this number: he writes that central bank balance sheets have now grown to a record $15.1 trillion, up from $14.6 trillion in late April, and says that "central banks[ters] have bought a record $1.5 trillion in assets YTD."
The latest data means that contrary to previous calculations, central banksters are now injecting a record $300 billion in liquidity per month, above the $200 billion which Deutsche Banksters recently warned is a "red-line" indicator for risk assets.
This, as we said last month, is why "nothing else matters" in a market addicted to what is now record central bankster generosity.
What is ironic is that this unprecedented central banksters buying spree comes as a time when the global economy is supposedly in a "coordinated recovery" and when the Fed, and more recently, the ECB and BOJ have been warning about tighter monetary conditions, raising rates and tapering QE.
To this, Hartnett responds that "Fed hikes next week & "rhetorical tightening" by ECB & BoJ beginning, but we fear too late to prevent Icarus" by which he means that no matter what central banksters do, a final blow-off top in the stock market is imminent.
He is probably correct, especially when looking at the "big 5" tech stocks, whose performance has an uncanny correlation with the size of the consolidated central bankster balance sheet.
Source
The latest data means that contrary to previous calculations, central banksters are now injecting a record $300 billion in liquidity per month, above the $200 billion which Deutsche Banksters recently warned is a "red-line" indicator for risk assets.
What is ironic is that this unprecedented central banksters buying spree comes as a time when the global economy is supposedly in a "coordinated recovery" and when the Fed, and more recently, the ECB and BOJ have been warning about tighter monetary conditions, raising rates and tapering QE.
To this, Hartnett responds that "Fed hikes next week & "rhetorical tightening" by ECB & BoJ beginning, but we fear too late to prevent Icarus" by which he means that no matter what central banksters do, a final blow-off top in the stock market is imminent.
He is probably correct, especially when looking at the "big 5" tech stocks, whose performance has an uncanny correlation with the size of the consolidated central bankster balance sheet.
Source
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