Description
The book documents the race to zero generated by the massive expansive monetary policies conducted all over the World. From the relative success of the Federal Reserves quantitative easing, where I show how many of the gains in the economy were completely detached from the Feds policy, to the unquestionable failure of Abenomics and the ECB plan. In this process, bond yields have collapsed, equity valuations have soared and junk bonds trade at the lowest yield in history. Debt has massively increased but growth, employment and productivity remain subdued. In the book I explain how countries can escape the central bank-led liquidity trap and at the same time how investors can profit from the likely impact on equity and bond markets of the end of monetary expansion policies.
