26 Sep 2013
Flash: pposing forces - BAML
FXstreet.com (London) - Alberto Ades and Isidore Smart, strategist’s at Bank of America Merrill Lynch note concerns with regards to the Fed.
Key Quotes:
“The Fed's decision to hold off on tapering its asset purchases initially helped to support emerging market assets this month, but fiscal concerns in the US appear to be pulling in the opposite direction”.
“Our US team now sees a 30% chance of some kind of government shutdown in the next few months, as both sides have taken steps back from each other, increasing the risk of an impasse”.
Key Quotes:
“The Fed's decision to hold off on tapering its asset purchases initially helped to support emerging market assets this month, but fiscal concerns in the US appear to be pulling in the opposite direction”.
“Our US team now sees a 30% chance of some kind of government shutdown in the next few months, as both sides have taken steps back from each other, increasing the risk of an impasse”.