Foreign Explosion, Few Americans Injured
The real lesson of the disruption in the UK financial market is the long reach of the Fed
In response to what some have called ‘not quite a Lehman moment… but close’, the Bank of England has been forced to begin buying long-dated government bonds while simultaneously engaged in a monetary tightening cycle. For those with a particular type of humour, this looks remarkably similar to the ECB plan to buy the bonds of ‘fragile’ Eurozone countrie…
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