QE is fuelling huge speculative activity with investors placing a lot of trust in central banks to step in if markets dive
There was plenty of bad news in America last week. A mob of Donald Trump supporters stormed the Capitol building. The number of new Covid-19 infections hit a record high. Employment fell by 140,000.
None of it fazed Wall Street which continued to climb to dizzying new heights. That’s the way with financial markets: when they are in that sort of mood they go up when the news is good and they go up when the news is bad.
Read the original article at The Guardian