Michael Howell: "QE Is Coming Back, Big Time"

Michael Howell of Crossborder Capital returns to Forward Guidance with a much-needed update on global liquidity.


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(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?


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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