John J HardyJohn J Hardy , Head of FX Strategy, Saxo Bank
Slovenia, 13 September 2012 at 16:36 GMT+0
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So we get QE3 lite now ($40 billion/month in MBS purchases now), extends low rates language through mid-2015. QE3 heavy in the wings if unemployment doesn't improve: "will add to purchases if..." Operation Twist will continue. Looks like somewhere in the middle of expectations - not the most dovish, but certainly easing here and now as "agency MBS purchase will begin tomorrow." More to come....

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Saxo Bank provides an execution-only service. The material on this website does not contain (and should not be construed as containing) investment advice or an investment recommendation, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Saxo Bank accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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