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Central Banks Have Purchased $2 Trillion In Assets In 2017

In his latest "flow report", BofA's Michael Hartnett looks at the "Disconnect Myth" between rising stocks and bonds and summarizes succinctly that there is "no disconnect between stocks & bonds." Why? The best, and simplest, explanation for low yields & high stocks is simple: so far in 2017 there has been $1.96 trillion of central bank purchases of financial assets in 2017 alone, as central bank balance sheets have grown by $11.
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