IVOL - MacroView: The Fed Has Inflated Another Asset Bubble

It didn't take long. Over the last several years, we have discussed the risk of excessive monetary policy inflating a bubble in a variety of assets from debt, to real estate, to stocks. In March, it appeared as if the bubble had finally popped. However, the Fed's quick response and massive monetary interventions ceased the asset bubble's deflation and reinflated it.

Another Bubble

The idea of another bubble was put forth recently by Jeremy Grantham of GMO fame:

"At GMO, we dealt with three major events before this crisis, and rightly or wrongly, we

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