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>> EUROPEAN CENTRAL BANK Latest News

FEB 06, 2013 - Zero Hedge

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Is This Why Gold (And Europe) Is Underperforming US Stocks (For Now)?

It seems the repayment of LTRO funds had quite a significant 'deleveraging' effect on the world's easy policy central bank balance sheet expansion. In USD terms, global central bank balance sheets have just experienced their biggest 4-week plunge since July 2009. Gold, like credit markets and European stocks, which have all underperformed US stocks, it appears merely discounted expectations of a drop in liquidity. We humbly suggest the momentum fueled, rotation-meme-driven, retail-is-in-now, US equity markets are due to meet their liquidity-maker sooner rather than later - if history is any ... Read More

Tags: Is This Why Gold (And Europe) Is Underperforming US Stocks (For Now)?,  European Central Bank Latest News