QE3 Not Positive For 'Risk On' Asset Class Performance

by: David I. Templeton, CFA

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
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Just looking at prior QEs' 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
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Source: Schwab