The race to zero is ramping up globally.

Wednesday India’s central bank cut it prime lending rate 25bps. It is the second rate cut this year for India.

Year-to-date 15 countries including China on Saturday to slash their rates to stave off deflation and attempt to spur economic growth.

Into this fray is a Federal Reserve jawboning that it will raise rates, which will strengthen the US dollar even further.

As I have said since last year, there will be no economic reason to raise rates off of zero this year in the US. A political move cannot be taken off the table.

A 25bps move would further cripple multinationals companies growth as well as US equities.

It’s a race to zero rates, however we are already at the finish line, with no place to go.