The latest BoJ and ECB meetings have confirmed that they have, at least for now, hit a limit for their easing policies. After the rather mixed message from the April FOMC meeting, it also seems as though the ‘Yellen put’ is the one safety net that investors can fall back on if global shocks were to derail the nascent economic recovery. On the face of it, none of this should matter so long as the latest risk rally is based on improving global economic fundamentals, growing company earnings and recovering commodity prices. That said, a look at the G10 economic surprise indicators would suggest that with some ... (full story)