This is the time of year to look back at where we have been, in order to understand where we are going in 2014.
For a bond investor, the last 11 months have been a fascinating time in the markets. This has been an environment dominated by central banks. Looking first to the East, in Japan we have had the three arrows of Abenomics to stimulate inflation and spark economic activity, consisting of huge stimulus, aggressive monetary easing, and structural reforms. To put the scale of such a programme in context, Japan has embarked on $75bn of QE monthly relative to the US, which is still buying $85bn worth of assets per month. Japan’s economy is just one third the size of the US economy, which giv...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes