Central Banks Are Buying $2.4 Billion In Assets Every Hour As Their Balance Sheets Eclipse $20 Trillion
As Deutsche Bank's Peter Sidorov writes, "the global policy response to the rapidly unfolding coronavirus crisis has been substantial, in many ways unprecedented."
Just how unprecedented? One number highlighted by BofA's Michael Hartnett in his latest Flow Show report has the answer: in the past 8 weeks, central banks have been buying $2.4 billion per hour of financial assets.
Here is another: as Deutsche Bank calculates, the combined G-10 central bank balance sheet is now above $20 trillion, catching up to its trendline since the financial crisis after stagnating around $16 trillion for the past two years…