After a seemingly unstoppable surge higher for years, March was a tough one for tech stocks, as the curtain was lifted exposing Oz-like machinations behind the scenes that spooked investors enough to pop the bubble of delusion so many were living in.
After a magnificent 2017, Cryptocurrencies also started 2018 off poorly as yet another 'bubble' popped.
However, there was one 'asset' that had a tremendous 2017, and has gone on to greater and bubblier things in 2018.
Spot the real bubble in financial markets...
A Central Bank has taken on itself to expand its balance sheet and invest in the proceeds, not in gold, nor sovereign debt - heck not even in corporate bonds. Nope, the SNB has taken it upon itself to “invest” that money in another country’s most risky part of the capital structure - equity.
And don’t think it’s a small number. It’s almost $100 billion US dollars.
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