Monetary policy and the outlook for equities

William W. Priest | Epoch Investment Partners | 24 October 2012

For the twelve months ended 30 September 2012, the MSCI World Index rose 22% in spite of the sluggish US economy, the drift toward recession in Europe, and a meaningful slowdown in the Chinese economy. In our view, monetary policy was the sole cause of this unexpected performance. Understanding policy options, therefore, is a major key to understanding even the most inscrutable markets and determining value in even ...