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Ole Hansen
It's been a crazy week in the markets with WTI seeing its biggest daily gain since 2009, but the recovery may not last long, says Saxo Bank’s Ole Hansen. He explains why oil prices could go back down to USD 40 and why he prefers silver to gold.
Squawk / 13 September 2012 at 17:08 GMT
Chief Economist & CIO / Saxo Bank
Denmark
FOMC part 2: FED did panic......

They are now doing 'open ended' bond buying - no finite time or amount...hence this will go down as QE Extreme.

I remain of the view this is final phase...

I'm long stocks, gold, short us dollars next 24-48 hours but ..on the anniversary for LEHMAN... tonight could be the day where FED did too much.

Low yield and monetary policy stopped having an impact two years ago, tonight could be the night where after the rally low rates no longer impact stock and risky asset - the only cheap asset right now is: money ...every time this has been the case in history it has ended in bubble and tears.

My expectations for FOMC: http://www.tradingfloor.com/posts/fomc-will-do-more-not-less-211139245

Trade of the day for FOMC: http://www.tradingfloor.com/posts/trade-of-the-day-fomc-position---bought-gold-oct-2012-at-1825-319161083

Safe travels,

Steen
2y
bvlaerhoven bvlaerhoven
totally agree. This is the bridge too far. Maybe even the FED themselves know/acknowledge as 40bio monthly is not the blowoff amount they could have done.
2y
bvlaerhoven bvlaerhoven
On the other hand, buying MBS is the better way to do this. Best of the worst?

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