Liquidity, and then some!

Dark liquidity flows keep on carrying the markets (except in April)

I will postpone the analysis on the Japanese economy, because I want to bring you an update on global liquidity. I just received a new patch of data on the global money supply reaching the end of March.

Issued discussed:

• There were major liquidity injections in March, which explains why markets rallied so fiercely.

• These injections came (also) from outside China.

• We are likely to slowly turn into a rally-mode in the markets again, with likely peaks reached in late-June or early-July.