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Can markets withstand the removal of QE?

October 2, 2017
Welcome to the eleventh edition of Konzept, Deutsche Bank’s flagship research magazine, which coincides with memories of the first stirrings of the financial crisis entering their eleventh year. This issue is published as the Federal Reserve starts rolling back quantitative easing, symbolising the post-crisis era giving way to the post-QE world. The withdrawal of QE, however, causes anxiety among investors. After all, central bank balance sheets and asset prices have climbed hand-in-hand since the crisis. Does the planned descent of the former necessarily lead to the latter following suit? All three features in this Konzept are devoted to testing this hypothesis. [more]

More documents contained in "Konzept (Engl.)"

12 Documents
June 6, 2018
1
About 250 years on from the first industrial revolution, we appear to be on the brink of a new age of automation, one dominated by complex robots and artificial intelligence. In this issue, we examine the impact of the next generation of automation on workers, industry, and society at large. Evidence from history, economics, and our industry analysts suggest that robots are more likely to complement us than replace us. [more]
January 15, 2018
2
Against expectations, economies and markets powered ahead in 2017. Many predict more records to be broken in 2018. Yet, in many sectors, things are more complicated and 2018 may be the year of tipping points that augur unexpected change – both positive and negative. In this issue, we probe these tipping points and analyse the effects on economies and industries that investors may have ignored. [more]
November 25, 2014
12
It is fashionable to say Germany is heading down the path of post-bubble Japan. But what if the Japan to worry about is not the deflationary 1990s but the previous decade when golf club memberships swapped hands for millions of dollars? And just as there is a risk investors fail to apply the lessons of a rising sun to Germany, there is a danger that Japan’s post-bubble era is ignored by China and South Korea. [more]
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