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1.Market Observations, 8.Was Sticky

8 Apr 2017 (AFR) – QE was great for asset prices – will ‘QT’ smash them?

(8 April 2017, AFR, p29, by Patrick Commins)

‘Judging by the reaction on Wall Street, the US Federal Reserve did something shocking this week. The release of minutes from the Fed’s last monetary policy setting committee sparked the steepest intraday drop for the S&P 500 index in 14 months. So what was this shocking revelation? That the Fed open market committee was thinking about starting to whittle away at its engorged balance sheet.’

Read more (and see the graph of Fed funds v Fed balance sheet) at AFR.com (might need AFR login access, or try: AFR.com/trial)

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