Here Comes The Stimulus Cavalry

It looks like the cavalry is on its way. Central bankers are now responding to deteriorating market conditions, and it appears we’re looking at a bounce. On Monday, while US markets were closed, Draghi grabbed a microphone to reassure investors, saying if there are further “downward risks to price stability, (the ECB) will not hesitate to act.” You’ll recall he made similar a proclamation last October, only to disappoint markets in December with secondary rate cuts and an extension of QE...