As the below chart shows, QE3 has not had the positive impact on "risk on" asset price performance since its implementation unlike in prior QEs.
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| From The Blog of HORAN Capital Advisors |
Just looking at prior QE's impact on the S&P 500, the following chart does show the positive impact on the index. However, each successive QE/Twist program has been less effective.
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| From The Blog of HORAN Capital Advisors |
Source: Schwab
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