Bloomberg doesn’t get it
There's no risk out there
A Bloomberg top story this morning muses, “It was supposed to be the triple whammy — a trio of catalytic news events that could potentially break financial markets from the gravitational grip of low volatility. But despite the European Central Bank shifting its language on interest rates, an ex-FBI chief characterizing the U.S. president as having lied and British voters serving up another surprise result, the following charts show markets have kept the proverbial stiff upper lip.”
The trouble with this line of thinking is that 1) the European Central Bank didn’t do anything and won’t do anything until the end of this year or early 2018; 2) no-one cares about Britain, and 3) Former FBI director Comey offered no new information on Trump.