Keyword: QE

QE in 2020 and Central Banks (the Fed, ECB and BoJ) Central banks’ QE should support financial markets next year. Image: Gavekal, Macrobond

U.S. Zombie Companies and Fed Ended QE Since the Fed ended QE, U.S. zombie companies have underperformered the market. Image: Arbor Research & Trading LLC

QE and Bond Yields Chart suggesting that bond yields tend to move higher after quantitative easing starts. Image: Danske Bank

Equity Markets and QE Chart suggesting that equity markets tend to move higher during QE periods. Image: J.P. Morgan

Bond Yields and QE Chart suggesting that bond yields tend to move higher after QE starts. Image: J.P. Morgan

10Y-3M Treasury Yield Spread Adjusted for QE and QT Adjusted for quantitative easing (QE) and quantitative tightening (QT), the 10-year minus 3-month yield curve may have inverted in December 2018. Image: Morgan Stanley Wealth Management

QE to Infinity and Beyond? Analysts say the Fed will resume and buy “just” U.S. Treasuries next year. The Fed’s balance sheet should rise past its historic peak. Image: Bloomberg – Cartoon: Hedgeye Risk Management LLC

S&P 500 Total Return and U.S. High Yield/High Grade Usually, flight to quality in credit markets is rarely a good sign for equities, but ECB QE, Fed easing and repo operations should be positive. Image: BofA Merrill Lynch

Different Holders of DM Government Debt The chart shows the historical breakdown of different holders of DM government bonds and overall DM debt-to-GDP. Even with QE, central bank government bond holdings are below historical peaks. Image: BlackRock Investment Institute

“Ken Fisher: Thinking in Ways That Others Do Not, with John Tamny” Great interview of Ken Fisher on: coastal redwoods, dikes and climate change, efficient markets, quantitative easing (QE) vs. inflation, humans as a group are slow to learn, recessions, Fed and interest rates, why philanthropy is bad and immoral, and why inequality is a good…