Tom McKay

From Citi's head of global credit, Matt King: There is a mixture of consciously persuading themselves that there is not a problem in so far as it is always difficult to tell in a bubble that there is a problem...What the global central banks seem to be doing is saying, 'We are struggling to generate growth; I know, let's create a new house price bubble - that worked last time around, maybe it will this time around too'...The central banks have only got one lever and they intend to keep on pulling it, even if that ends badly...Don't do what the central banks want. Don't reach for yield with the whole of your portfolio and buy something that turns out much more risky that you thought it was later...


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