Fed Quantitative Easing (QE) and NTM P/E After the Fed launched quantitative easing (QE), history suggests that there is a positive correlation between QE and a rising stock market. Image: Fidelity Investments
U.S. Treasury Issuance and Fed QE What’s the impact of quantitative easing? The Fed is now expected to buy double the amount of U.S. Treasury net issuance. Image: Deutsche Bank Global Research
Federal Reserve’s Balance Sheet and “Not QE” Welcome to “Not-QE”. The Fed’s balance sheet is expanding at fastest rate since the Great Financial Crisis. Image: US Global Investors
G4 Central Bank QE and Emerging Markets Equities This chart suggests that G4 central bank stimulus would support emerging markets equities in 2020 (R = 0.94 since 2016). Image: BofA Global Research
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