Salient to Investors:
Nouriel Roubini writes:
QE is not creating credit for the real economy, but instead boosting leverage and risk-taking in financial markets. Issuance of risky junk bonds under loose covenants and with excessively low interest rates is increasing, the stock market is reaching new highs, despite the growth slowdown, and money is flowing to high-yielding emerging markets.
Read the full article at http://drnourielroubini.blogspot.com/2013/06/feds-liquidity-injections-are-not.html
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