The Living Markets

Pictet: Fed’s Treasury purchases will drive stock markets higher

This time last year, the Federal Reserve was looking to shrink its balance sheet. But a spike in short-term lending rates in September has prompted the U.S. central bank to resume buying Treasury bills at an initial pace of $60 billion a month. Anastassios Frangulidis of Pictet Asset Management says the excess liquidity will lead to higher stock prices into next year in a market that is already trading at record peaks.

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