Spreadex Market Update
No fed tapering
The influence of vice chairwoman and now front runner for the top job at the Fed Janet Yellen had in the decision is sure to be brought up. Would this have been the outcome were the more hawkish Larry Summers still in play?
UK and Asian markets were also boosted by the announcement with the Nikkei rising 1.9% and the FTSE opening up this morning as markets anticipating and ready for a taper reacted. Investors will spend most of the day today attempting to interpret this move by the Fed and speculate on the long term implications. With the FOMC sending mixed signals on the possibility of a 2013 taper expect confusion and therefore volatility today.
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