Investors have ridden the 12 Trillion USD flood of central bank stimulus over the past decade. This “extra” cash is ebbing out and there will be casualties. Recent emerging markets rout is one example of less cash. For now the emerging market volatility seems “contained” but we have seen local problems go global before. What is QE, QT and what to expect going forward?

Below is the best short explanation on the topic we have come across.

Worth a read as the world prepares to listen to the Jackson Hole meeting.

Full link to article here.