"Disciplined Systematic Global Macro Views" focuses on current economic and finance issues, changes in market structure and the hedge fund industry as well as how to be a better decision-maker in the global macro investment space.
Thursday, January 16, 2014
No success with QE
Hat tip to a reader who sent me this graph. He stated that QE can be summed up in one picture. Note the switch from positive to negative correlation with the current QE program. The law of diminishing returns at work. Monetary policy is pushing on a string even for assets that are moving closer to bubble territory.
I guess we should put our confidence in forward guidance as the best policy choice?
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