The Federal Reserve shifted to quantitative easing (QE) in September of this year, following 4 years of quantitative tightening (QT), marking a significant change in the market liquidity environment. Quantitative easing injects money into the market through large-scale asset purchases, lowering borrowing costs and stimulating economic growth, typically driving stock market gains. QE contrasts with QT, with the former increasing liquidity while the latter drains funds, putting downward pressure on asset prices. Currently, the market holds an optimistic outlook on the QE cycle, expecting various asset classes to benefit from an environment of abundant liquidity.