Russ explains why monetary easing matters more than geopolitical risks for the markets right now.
Absent a year-end meltdown, stocks will have enjoyed a stellar year. That stocks would post +20% gains was not obvious back in January when investors were preparing for some combination of a recession and trade war. What saved stocks? It has not been stellar economic growth or a surge in corporate earnings. While the recent easing in trade tensions has helped, what has really saved stocks is what has worked time-and-time again this cycle: monetary easing.
Back in early September,