Quantitative Easing

In the US and euro area a number of global bourses hit all-time highs

March 30th, 2015|by Michael Ashley Schulman, Perspectives, The Big Picture|

In the US and euro area a number of global bourses hit all-time highs in the first quarter. Europe led the pack, as sovereign quantitative easing (QE) was a catalyst to unlock value. Not only are euro area equities (particularly export and real estate related sectors) finally responding to a cheapened euro and zero interest […]

But first a word about our sponsor

June 30th, 2011|by Michael Ashley Schulman, Perspectives, The Big Picture|

But first a word from our sponsor, or more precisely, about our sponsor. During the Fed’s Quantitative Easing II (QE2) program over the last year, financial conditions eased and real interest rates fell for Treasuries, government sponsored enterprises, investment grade credit and high yield issuers. The Fed can therefore claim praise for helping high yield […]

Additional U.S. monetary stimulus

September 30th, 2010|by Michael Ashley Schulman, Perspectives, The Big Picture|

Additional U.S. monetary stimulus beginning with the November 2–3 Federal Open Market Committee (FOMC) meeting is a foregone conclusion. Policymakers have openly discussed ways to counter the downtrend in inflation expectations and revive economic growth, including an inflation target, a price level target or a nominal income target. These “open mouth operations” have been rewarded […]