Cazenove Strategist Discusses PPT And POMO Interventions To Keep Markets Ramping Higher

CNBC (the infinitely more credible European edition) has run a stunning interview with Cazenove technical strategist Robin Griffiths in which the banker discusses such taboo items as the Plunge Protection Team’s intervention in the market for the month of September in a last ditch effort to keep stocks from tumbling following the horrendous August performance … “One of the reasons [for the surge] is POMO: what happens is the Fed buys Treasurys off the banks, the banks put the money into the market…That amount of money turns the algorithms up, then all the algo trading hits the market. Real life investment managers are not doing this buying. They know that equities are for losers.” And the stunner: “The S&P is being effectively goosed up by the Plunge Protection Team”…

Go to Source

Related posts:

  1. A Theory of Permanently Higher & Higher Income
  2. Pimco Sells Black Swan Protection as Wall Street Markets Fear
  3. Reality of Real Economy Overtaking Markets
  4. Distressed CMBS Loans Up 41% in April, as Commercial Real Estate Prices Edge Higher
  5. Citigroup, JPMorgan Urge Relief From Higher Capital Requirement

Leave a Reply

Special Offers