It’s All About the Economy - Earnings: T, BCE, FRU, CU, WJX
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Seldom are market shaping events so closely tied to the calendar year time frame. It was about a year ago when interest rates started the final leg of dropping to near zero.
This also marked the low point after declining from the teens, beginning in the early 1980's. Zero is the bottom, except the momentum from more than four decades of decline was so much it smashed through the zero level in Europe and Japan, before grinding to a halt.
Even if the final drop during 2019 and bottoming out had not been so precisely tied to the annual calendar, it was an important milestone for markets and the economy. It was a consequential and a defining change for how central bank policy interacts with the economy.
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