http://www.pimco.com/Pages/RunTurkeyRun.aspx#
- The Fed's announcement of a renewed commitment to Quantitative Easing has been well telegraphed and the market's reaction is likely to be subdued.
- We are in a "liquidity trap," where interest rates or trillions in asset purchases may not stimulate borrowing or lending because consumer demand is just not there.
- The Fed's announcement will likely signify the end of a great 30-year bull market in bonds and the necessity for bond managers and, yes, equity managers to adjust to a new environment.
