Global banks retreat as the US and China tighten in lockstep

``Bank of America has warned clients that the glory days of "maximum liquidity" we have enjoyed in the post-Lehman era are coming to an end, with sweeping implications for asset markets across the world... In aggregate, the great central banks are turning hawkish. China's premier, Li Keqiang, sent a chill through the World Economic Forum in Tianjin this week, warning that markets can no longer count on easy money. "We are restructuring instead of expanding the monetary supply," he said.''