James McKay

ZH: Asian/Aus mkt correction? The QE exit strategy, if the Fed ever summons the courage to pull it off, would do little more than redirect surplus liquidity from higher-yielding developing markets back to home markets. At present, with the Fed hinting at the first phase of the exit - the so-called QE taper - financial markets are already responding to expectations of reduced money creation and eventual increases in interest rates in the developed world


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