Michael Howell: "QE Is Coming Back, Big Time"
发布时间 2023-06-22 11:00:00 来源
摘要
Michael Howell of Crossborder Capital returns to Forward Guidance with a much-needed update on global liquidity.
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Timestamps:
(00:00) Introduction
(01:02) Rising Liquidity Is Supporting A New Bull Market
(07:07) Are Shadow Quantitative Easing (QE) and Yield Curve Control Already Here?
(27:06) We're In A Liquidity Cycle Upturn
(32:42) Falling Inflation Has Boosted Liquidity & Price / Earnings (P/E) Multiples
(40:58) Liquidity Is Rising In China & Japan
(47:20) Howell's Not Very Bullish On Bonds
(54:53) Stocks Will Likely Continue To Outperform Bonds
(56:06) When Will The Fed Start Cutting Interest Rates?
(01:00:08) Internals Of Stock Market Indicate Global Economic Slowdown Is Likely Already Behind Us
(01:03:00) Liquidity Is High In Chinese Financial System
(01:13:25) Inflows Into Emerging Markets Are "Very Unusual"
(01:16:20) How To Measure Bank of Japan's Liquidity Injections
(01:17:25) Bank of England (BOE) and European Central Bank (ECB) Are Less Important Than Fed & People's Bank of China (PBOC)
(01:18:29) The Fiscal Endgame (Rates Have To Stay High To Prevent Further Debt Build-up)
(01:31:42) When Will Shadow Quantitative Easing (QE) Turn Into Outright QE?
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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
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