.."Goodbye net monetization of US debt. Going forward the Fed will only roll
maturing debt, as per QE Lite announced in early August, and due to the fact
that it will be roughly one fifth the notional periodic impact of QE2, is not
what so many erroneously classify as QE2.5. The biggest question of who will
buy bonds now"..
COMMENTS: The last time QE ended (May 2010), a few days latter the world
was presented with a new financial terminology 'Flash Crash'. This current
bounce in stocks is expected, but a new high in stocks is extremely doubtful
with no QE. Both Japanese experiences with QE ending saw stocks sell off for
a long time, so has USA gone all Japanese'a, we shall see very soon. Watch
this space, fireworks should follow.
The chart is a reminder posted on this blog some time back.
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