For much of the past decade, one of Michael Hartnett's most popular and accurate aphorisms was that "markets stop panicking when central bank start panicking", something he reminded of in last week's post-Fed Jumbo rate cut note...
... and - well - we are once again there: first Europe, then the US and finally China, are all panicking slashing rates and easing across the board, in hopes of avoiding, or reversing, the inevitable.
