Managing Exuberance

(1) A leak at the Fed’s favorite leak outlet. (2) The Fed’s exit strategy. (3) How will they know the difference between rational and irrational exuberance? (4) What is prudent risk-taking? (5) The Fed’s Financial Stability Monitoring Program. (6) Big Ben is watching. (7) Competitive devaluation leads to competitive ultra-easing. (8) BOJ starts going wild in April. (9) China’s loans and M2 growing fast as PPI drops fast. (10) Reaching for yield in Rwanda. (11) Another test for the bull. (12) Soaring industries. (13) “The Great Gatsby” (+).