Look for action on the 6th. Be extremely disappointed if nothing happens and expect markets to decline rapidly. If central bankers do take some policy actions, it is key to figure out which ones are practical, which are merely symbolic, and which are just a dream and not an action. Who says what is just as important in some cases as what they say. When Merkel says something, we all need to listen. When anyone from the EU in Brussels says something, it will be the same thing they have said over and over and is completely self-serving and should be ignored. Anything Draghi and Bernanke might say is critical to listen to, because in this weird world, they have the most power to do something meaningful in a short period of time.Read it at Zero Hedge
Is June 6th D-Day Once Again?
By Peter Tchir
Comprehensive look at possible actions from the ECB’s meeting this week and other central banks across the globe.