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Nordea with the note:
A crack-up boom, or business as usual?
At the beginning of this year a friend said “he was afraid to hold cash”. Looking at asset price inflation since then it appears he was right to be fearful. House prices have been exploding higher, key equity indices trade at all time highs, metal prices, food prices, lumber prices, shipping costs have all been soaring while central banks are still putting their pedals to the metal (FOMC review). And this despite global sentiment suggesting it’s hiking time…
Chart 1: Central banks putting the pedal to the metal despite sentiment screaming for hikes
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.