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G'day
QE, UMP, ZIRP, ZLB - if you've
not yet made time to read
our new
Backgrounder on Unconventional Monetary Policy (UMP), then please
do. It's a unique white paper that explains UMP to date (in a similar
vein to the Lifecycle Investing Paper from Conference 2013).
For what could happen from here as QE unwinds, turn to our Markets
Summit 2014 Resources Kit. We're now working furiously on it so you can
"attend" Markets Summit 2014 even if you weren't able to be there on
Tuesday for the live program. The first presentation available is
Woody Brock's keynote on the unintended consequences of ultra-easy
monetary policy. Woody is one of the world's foremost economists,
and his insights are highly valued by country and corporate world
leaders. So don't waste this opportunity to hear his views. Before you
do, though,
read this summary of Woody's presentation |
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from this week's Australian
Financial Review. We'll be adding to the Resources Kit throughout the
coming week, and letting you know by Twitter when each of the 18
presentations is live.
All the best for some great weekend learning - and for the week ahead! - Graham
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Perspectives -
latest |
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Unintended consequences of ultra-easy monetary policy
Today's
long period of very easy money and very low yields has distorted the
financial system. This will cause unintended consequences in the near
future as QE ends.
Dr Woody Brock, SED | Presentation,
Paper & Podcast
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Backgrounder: Unconventional Monetary Policy
Researched and authored by PortfolioConstruction Forum, this
Backgrounder white paper explains why Unconventional Monetary Policy is
undertaken, how it works, what it does, whether it's inflationary, and
what some of the unintended consequences may be. Intentionally, it does
not consider what might happen from here (that's the arena of
PortfolioConstruction Forum Markets Summit 2014).
PortfolioConstruction Forum | Backgrounder
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Perspectives -
recently |
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What a wonderful world
The majority of the world will see an improvement in economic growth
this year. But, after a lengthy and linear rise, equity markets will see
much greater volatility this year.
Jonathan Pain, The Pain Report | Opinion
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The end of unconventional monetary policy
There is a broad acceptance that Bernanke's monetary policy helped stave
off another global depression. But the final verdict on UMP remains years away.
David Hale, David Hale Global Economics | Opinion
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Breaking Unconventional Monetary Policy
Breaking Unconventional Monetary Policy is going to prove too hard to
achieve. Central Banks will run scared of their political masters; QE or
an equivalent will recommence.
Nick Bullman, CheckRisk | Opinion
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The US recovery will surprise on the upside
The start of the end of the Federal Reserve's money printing is expected
to reshape the global investment landscape.
Hamish Douglass, Magellan Financial Group | Opinion
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Inflation, uncertainty and portfolio management
Will QE ruin retirement? Looking back at the risks inflation has
presented in the past helps us look forward to the potential
consequences.
Dr Susan Gosling, MLC
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From liquidity surfing to bull running
The start of the end of the Federal Reserve's money printing is expected
to reshape the global investment landscape.
Tai Hui, JP Morgan Asset Management | Opinion
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Squeezing out more juice
We are
introducing three new investment scenarios for 2014 - our base case, Low
for Longer; our bull case Growth Breakout, and our bear scenario,
Imbalances Tip Over.
BlackRock Investment Institute
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Finding value in a coupon driven market
2013 was a transitional year, as the market woke up to the reality that
extraordinarily accommodative monetary policy would not go on forever.
What of 2014?
Greg McGreevey, Invesco | Opinion
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Diverging markets
Looking ahead, returns on emerging market debt are likely to better
reflect the diversity of the asset class. More than ever, it pays to
know your market.
Goldman Sachs Asset Management | Opinion
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Outlook on the United States
The US economy made substantial progress in 2013. The economic outlook
for 2014 appears promising -and the US equity market can continue to
appreciate.
Ronald Temple, Lazard Asset Management | Opinion
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Calendar of
live programs |
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Keep up to
date - follow us @PortfolioForum
There's no need to wait until
our weekly Forum Fodder email to know what's new with PortfolioConstruction Forum.
Just follow us on Twitter to hear as soon
as we release new articles on
PortfolioConstruction.com.au and
registration opens for our live programs.
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