Macro impact of QE light likely insignificant [HEAT]

Mads Koefoed

Filed in: Macro Update

11 August 2010 at 10:15 GMT

The Fed annouced yesterday that it will buy US treasuries with the principal payments from maturing mortgage-backed securities. The stock market initially cheered, but we have our reservation as to the impact on economic activity.

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Macro Update

Saxo Bank's Macro Update is a daily preview of expected macroeconomic releases. But it also delivers commentary on the geopolitical factors affecting markets and any prior data that needs to be highlighted. It is normally published once a day at the start of European trading.

Authors John J Hardy, Mads Koefoed, Steen Jakobsen