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“Blind Faith” Has Ended: The World Is A Complicated Place (And Getting More So)

from ZeroHedge:


I’ve got news for you,” warns Bloomberg’s Richard Breslow, the world is a complicated place and getting more so, not less

This is not your happy, some would say mind-numbing, environment where the only thing that ultimately mattered was blind faith in the global commitment of central banks to “do whatever it takes”. It will not serve investors well to fall back on analysis by reductio ad simplicate.

This is not your happy, some would say mind-numbing, environment where the only thing that ultimately mattered was blind faith in the global commitment of central banks to “do whatever it takes”. It will not serve investors well to fall back on analysis by reductio ad simplicate.

Did markets make their moves since the minutes because the Fed was dovish? That’s a stretch. I suppose it is possible to sift through and find the parts that might support such a case. But it would be a selective and incomplete reading of the words. Especially in light of Chair Yellen’s post-decision press conference.

The dollar was down in Asia today. Just think for a minute. Might it have had something to do with with the squeezes dramatically strengthening both onshore and offshore yuan rather than a belated understanding that the Fed might still take data into account going forward?

Read More @ zerohedge.com

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