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Cue the QE

16042020_QE

Cue the QE

When it rains, it certainly does pour at the moment. In the midst of the Italian government effecting a quarantine of 17 million citizens, including the entire city of Milan, a meeting was taking place in Vienna – the result of which would release a deflationary shock around the world. And it had little to do with the coronavirus.

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Andrew Macken is the Chief Investment Officer of the Montaka funds and the Montgomery Global funds. He established MGIM in 2015 in partnership with Montgomery.

This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.

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2 Comments

  1. Couple of things here Andrew

    The geopolitics here seem complex and contradictory – the Saudis seem to be taking orders from the Americans to increase supply – if the Russians are trying to hurt US shale production then, Saudi increasing production seems to actually assists the process? My suspicion is that Shale has never really been a viable option but has some value as a means of self sufficiency.

    Also, I not convinced a drop in oil prices, and hence general prices, is a bad move given the current situation – if people can’t pay their bills surely this is a good things. Perhaps this is not really about Russian interference but the Saudi’s have been told to increase production as a way of helping the global economy. More general supply constraints (especially of Chinese based products) could put an upward pressure on the price of everyday consumer items (and in particular the ability of the consumer ability to purchase them).

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