http://www.zerohedge.com/news/m2-surge-moderates-only-increases-422-billion-past-week
The ratio of cash and near cash to new money off the printing press is all important to dc ben. With $9.5 trn as m2 this invites qe3. So, good luck to those deposit accounts.
This wall of cash will mean huge forward volatility. Its worth noting that order books can be massively overrun with such liquidity around. This sort of systemic threat is also why news events will be flagged in advance to primary dealers etc who will be asked to manage order books to avoid ‘melt up’ scenarios. Note, front running is inevitable i’m afraid.!
Rich