Wednesday, July 20, 2016

Climateer Line of the Day: In With The In Crowd Edition

Regarding the richifying effects of having your debt on a central bank's must have list, David Keohane at FT Alphaville:

That’s the ECB’s corporate sector purchase programme (CSPP), of course, which is having what looks to be an easy-to-spot effect on the cost of borrowing for those lucky enough to be inside the fold...
This is nothing more than a wealth transfer gussied up in central bankerese.
The post continues here.