Robert Schumacher is Head of US Fixed Income, Strategist/Senior Portfolio Manager with AXA Investment Managers.
He has 37 years of capital markets experience, with hands-on experience in sales, trading, management, marketing and investment management of retail and institutional assets.
In this Opalesque Podcast, Rob shares his interpretation and analysis of the Fed’s Monetary Policy Path - its impact on the economy and on other asset classes. Is there an up-side to exiting Quantitative Easing "early"?
Is there an exit strategy and why we should be braced for "Q-Eternity"...
Q2 - What is your response to the newly included forecast for 2015?
Do you believe it is the earliest appropriate time for policy actions to move away from Zero Interest Rate Policy?
Q3 - Could you elaborate on The Three Policy Paths - and their impact on yield?
Q4 - How has policy affected other asset prices? Is it creating bubbles in other asset classes?
Q5 - What about a collateral asset bubble?
Q6 - What in your opinion is the "optimal exit strategy"? Should it be "no exit strategy"?
Q7 - The Bank of Japan’s announced (April 4, 2013) intention to double the size of its monetary base through open market purchases (est. USD1.43 trillion) may prove to have profound effects on the world's fixed income markets - could you elaborate on what those effects might be?
How should an investor look to optimise asset allocation in such an environment?