The QE3 Conundrum: Benefits and Limits

In BlackRock's monthly fixed income market outlook, Rick Rieder, Chief Investment Officer of Fundamental Fixed Income, argues that while we have seen risk assets rally on expectations and announcements of monetary policy accommodation, global growth has simultaneously continued its deceleration.  While policy accommodation in Europe and the U.S. should support risk asset markets and mitigate left-tail risks, there is less clarity about the impact on repairing real economies.  Click here for Rieder's article.  

Steven Karsh