So be warned: my review of this conference and its impact might be slightly positively biased! But nevertheless, my primary conclusion is very likely to be undisputed. For good reasons, the ECB watcher conferences organised by the CFS have become a central part of the yearly agenda for everyone interested in a serious monitoring of European monetary policy.
-8(CPV) (forthcoming), the empirical correlation between U.S. bond and stock returns changed sign in the late 1990s from positive to negative (figure 5, “Bond–Stock Covariance in the United States”). In the 1970s and 1980s, the sign of the correlation was positive, which implies that bond and stock returns tended to rise and fall together.