A Look Back At 8 Years Of QE

Well, we're coming to the end of an era. The median Fed dots now presage three hikes in 2017 and Deutsche Bank's models now incorporate the rolling off of the FOMCs assets and under once scenario, even the gradual liquidation of the SOMA portfolio. Meanwhile, the ECB has signaled its willingness to at least start the "taper" discussion despite the fact that a sustainable rise in inflation remains elusive. Japan is, as always, another story and indeed one could interpret the BoJ's pledge to ke