market observations

While the global economy runs on QE-fumes suggesting growth, the economic engine seems to be, in reality, running on a couple cylinders in great need of an overhaul while central banks continue to pour fuel into the tank hoping for some continued measure of progress. Since 2016, major averages have corrected beyond a few percent just once. The fast bounce back to new highs suggests global QE will win the tug-o-war vs. higher rates in the U.S.