Stocks were off to the races this morning with the sixth Chinese rate cut this year. This is of course in addition to the recent suggestion by Draghi of the ECB that they intend to do something in December.
Techs were leading the way higher on the back of the results turned in by Alphabet and Amazon.
The central banks are declaring their willingness to print money and pursue accommodative policies until business picks up momentum.
They may beat this policy error business into the ground.
I doubt they will be satisfied until they have caused another financial crisis.
So be it.
Have a pleasant weekend.
