This week, Real Vision used Refinitiv's best-in-class data to look back at the stranglehold that monetary policy has had over markets.
Central banks played a pivotal role in the era of monetary madness in the last decade, and despite their best efforts, growth and inflation have remained sluggish.
Central bank balance sheets have expanded dramatically, adding 13 trillion, but rather than creating inflation, the rampant money printing has lowered inflation expectations and helped guide bond yields to lower levels.
As balance sheets rose, the velocity of money collapsed and yields fell, which discouraged investment, which