Posted by: Matthias Paul Kuhlmey
My two daughters are still at an age where they “hit” every playground with eager excitement. Observing them is quite interesting, and recently left me to consider a once-central thesis of physics that may also apply to financial markets (nerd father alert). When taking a turn on the merry-go-round, a question to ponder is whether my girls are spinning around the world, or if the world is instead moving around them; i.e., what is fixed, and what is not, at least from their perspective? Equally uncertain is the collective opinion when it comes to global monetary policy and asset prices. After our previous entries, Apex 2015: An Unobstructed View and Old Medicine In New Bottles, this is the third blog exploring the impact of a persistent low-rate environment and unprecedented quantitative easing.
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