The End of the Balance Sheet Expansion: What It Means for the Global Economy
Beginning in the 1980s, monetary policymakers have used interest rates to stabilize the global economy. Since that time, the US 10-year Treasury yield went from 14.5% to 1.5%. At its peak, more than $17 trillion of bonds globally carried negative yields. The US Federal Deficit higher than $1 trillion, even in the 10th year of an expansion. Expanding balance sheets have benefitted risk taking. Can it continue? What are the implications for global economies and investors if it can't? Using his many years of experience, Jack Ablin, founding partner and chief investment officer of Cresset Capital, will walk you through the past and present and offer his outlook for the future of the global economy and the investment markets.