There is a distinct risk that the recent market euphoria will fade soon once traders realize, that Bide's use of the phrases “paying their fair share” and “closing loopholes” could spark a tax-hike driven selloff since the stimulus boost is already fully priced in. This, as Bloomberg notes, is a moment "in which the market could pivot to some of the other risks associated with a Blue Wave like tax

since the ECB does not want to be associated with the stigma that trails the BOJ which, as everyone knows, will be the first central banks to capitulate, the European incarnation of bond market nationalization is called yield spread control.

“It’s not as explicit as the Japanese do it, but broader,” said Florian Hense, European economist at Berenberg. “Once it’s out that you explicitly control the yield curve, this commitment can be very expensive.”

Well, the cat is now officially out of the bag, and whatever one calls it, the fact that it is only with the ECB's explicit intervention that European yields haven't blown out will mean that the moment there is even the tiniest whiff the ECB may be pulling back its intervention that we will have an epic crisis.

Commie fascists want to tax “UNREALIZED CAPITAL GAINS”

"She raised eyebrows of some senators and Wall Street when she said that Treasury would consider the possibility of taxing unrealized capital gains - through a “mark-to-market” mechanism - as well as other approaches to boost revenues."

Paris Flag of France , 1/25/2021

Long queue of students at the student food bank. Many students made extra money o. the catering industry and have lost their jobs due to the COVID-19 measures.

You'll own nothing, and you'll be happy?

Film projector @simonlouvet_ in front of @actufrparis