Michael Hintze's end of year note to investors

In his end of year message to investors, Sir Michael Hintze has warned of the potential impact of dropping oil prices on global markets and advised on the effect of the end of quantitative easing (QE). According to Business Insider, Hintze's message to CQS investors read in part:

“There are many crosscurrents globally in terms of economic growth, central bank policies and geopolitical risks. While the completion of Taper in the US is in effect a tightening of monetary policy, Governor Yellen’s Fed will likely be accommodative and ‘behind the curve’ as it relates to any interest rate hikes and the central bank policies of China, the Eurozone and Japan continue to be positively accommodative. We believe the US dollar should continue to strengthen. The near 40% fall in Oil prices over the last six months should be supportive of global GDP growth in the medium-term. In addition to being supply-led, it may also be a reflection of weakening end-demand and add to the deflationary bias, which we believe will likely create cause for concern among more indebted countries in the longer term. Geopolitical issues also continue to threaten stability.”