The mix of endogenous healing and strong central-bank tailwinds, including from a “whatever it takes” European Central Bank, has also helped markets shrug off troubling political uncertainties. Be it the US Congress’s paralyzing polarization or Italy’s protest vote against the established political order, politicians are being given time to overcome their dysfunction, thereby minimizing any immediate disruptive impact.
内生恢复加上强劲的央行助推——包括“不惜一切代价”的欧洲央行——还帮助市场摆脱了令人不安的政治不确定性。不管是美国国会导致僵局的两极分化，还是意大利反对现存政治制度的抗议票，政客都获得了时间克服功能失调，从而将即期破坏性影响最小化。