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Nordea's take on the Fed minutes:
"Our key take-away is that an Operation Twist is highly likely in December and that asset purchases will be kept at the same minimum tempo (in contrast to the tapering announced by BoC) – in particular since Mnuchins decision to veto against the prolongation of crisis measures has been taken after the FOMC meeting in November. We also think that the Fed intends to launch a set of guiding principles on how long the asset purchases will run for. These principles will likely be linked to PCE prices and unemployment."
On the Mnuchin vs Fed they once again remind us:
"... it can actually be seen as positive/dovish news that Mnuchin vetoed against a prolongation of the crisis measures as the Fed is now more inclined to turn more dovish on instruments that are actually put to use."


