Countless billions of newly printed money have kept flowing into US markets from Europe and Japan. Their central banks keep printing it, and their banks and institutions keep shunting some of it straight to Wall Street. That has continued to feed what, at this point, is probably the greatest asset bubble in the history of the world.
The Fed is conspiring to call a halt to this orgy by “normalizing” its balance sheet. Here’s what to expect and suggestions on how to play it.
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