Monthly Outperformance of NYFANG Over ACWI and ECB QE Total Is the shock of central bank tightening in Europe and Japan the most underappreciated risk this year? Image: BofA Global Investment Strategy
Transition from QE-Winners to QE-Losers The transition from QE-winners to QE-losers has begun in 2021/22. Image: BofA Global Investment Strategy
Central Banks – Quarterly Pace of Fed, ECB, BoJ, BOE Net Purchases (Quantitative Easing – QE) The pace of global central bank purchases is expected to turn negative in Q1 2022. Image: BofA Global Research
U.S. 5s30s Yield Curve and Tapering of QE Will the yield curve continue to flatten? Image: Nordea and Macrobond
Quantitative Easing (QE) – Total Assets of the Federal Reserve Are investors facing a reality of QE to infinity and beyond? Image: BofA Global Research
G10 Central Bank Expected Average Monthly Quantitative Easing (QE) in 2021 Central banks are expected to provide more liquidity to markets in 2021. Image: Morgan Stanley Research
Valuation – S&P 500, Nasdaq 100, S&P 400 MidCaps and S&P 600 SmallCaps without Quantitative Easing (QE) Chart suggesting that without QE, the S&P 500 should be around 1,800 and the Nasdaq 100 around 5,000. Image: Societe Generale Cross Asset Research
S&P 500, U.S. Bond Yields and Quantitative Easing (QE) Since QE, the S&P 500 has been increasingly driven by U.S. yields. Image: Societe Generale Cross Asset Research
Quantitative Easing (QE) – Quarterly Pace of Central Bank Purchases Should investors worry about QE fading? Image: BofA Global Research
U.S. 10-Year Treasury Fair Value Adjusted for QE A potential “blue wave” could add fuel to the bear steepening in the U.S. Treasury curve. Image: Oxford Economics
Quantitative Easing (QE) and Bond Yields Bond yields tend to move higher after QE starts. So far, however, QE seems to have a different effect on the bond market. Image: J.P. Morgan