2016-07-14zerohedge.com

One conundrum stumping investors in recent months has been how, with investors pulling money out of equity funds (at last check for 17 consecutive weeks) at a pace that suggests a full-on flight to safety... are these same markets trading at all time highs? We now have the answer... Matt King reports "a surge in net global central bank asset purchases to their highest since 2013."

``... we remain deeply skeptical of the durability of such a policy-induced rally, unless there is a follow-through in terms of fundamentals, and in credit had already started to emphasize relative value over absolute, we suspect those with bearish longer-term inclinations may nevertheless feel now is not the time to position for them.''



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