Virgil Showlion
Distinguished Associate
Moderator
[b]leones potest resistere[/b]
Joined: Dec 20, 2010 15:19:33 GMT -5
Posts: 27,448 
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Post by Virgil Showlion on Mar 12, 2018 8:26:59 GMT -5
"CB" stands for (as you can probably guess from the legend) "Central Banks". In short, from the turn of the century until present, the world's six largest central banks have gone on a quantitative easing buying binge that's brought their asset holdings from under 15% of world GDP to over 40% of GDP, with no end in sight. If you're mystified by how both the stock market and bond market have continued to perform well in tandem since 2009, despite the exodus of retail investors in recent years, you need look no further than this chart. It can't go on forever. There is a limit at which even central banks must stop being bidders. Caveat emptor. |
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