Carmignac's Saint-Georges: The three consequences of quantitative tightening

Even for motivated investors, the ins and outs of central bank policy do not exactly make for thrilling reading in the summer heat. The impact on sentiment of politicians' outlandish escapades - on either side of the Atlantic - or even the latest business news would stand a better chance of grabbing the attention of savers on holiday. But as often happens, what catches the eye may not be what is most important. The revolution that will most affect the direction of financial markets in the coming months, and probably the coming years, is not political. It is monetary. It was almost ...