With easing in the US ending in October, the introduction of so-called money printing in Europe is a timely boost for markets.
The US economy is already out of the emergency room. Meanwhile, Europe continues to struggle to gain any traction and is years behind the US, where the first tranche of easing began in 2009.
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The ECB package has the potential to more than offset the end of easing in the USA.
With the US economy and corporate earnings picking up, combined with the start of more easing in Europe, risk assets could find support for the final quarter of 2014.
Gary Potter is co-head of multi-manager at F&C Investments
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