Tag Archives: flow of funds
This is an appendix for our earlier post, “Where $1 of QE Goes: The Untold Story.” We’ll describe our use of the Fed’s flow of funds data in more detail, in Q&A format.
“We don’t understand fully how large-scale asset purchase programs work to ease financial market conditions.” – New York Fed President Bill Dudley “I don’t think there’s any doubt that quantitative easing enabled the rich and the quick. It was a … Continue reading
There’s been some buzz recently about a pick-up in business lending. The six largest banks increased business loans at an average annual rate of 8.5% in the first quarter, according to a Wall Street Journal report last week. Other first … Continue reading
We last wrote about stock valuation in August, when we looked at three types of P/E multiples and argued that stocks were more stretched than you would think if you only relied on the simplest measure. Since then, we’ve had … Continue reading
In an earlier article, I argued that the S&P 500 (SPY) is more expensive than you might think if you only compared prices to trailing earnings. I recommended a different approach that suggests today’s valuation is similar to that of … Continue reading