Sentiment Buoyed by FOMC QE3 Expansion

Financial markets strengthened after the FOMC meeting. As expected the Fed expand the size of asset purchases by US$45B as Operation Twist expires by the end of the month. Moreover, the central bank surprisingly agreed to replace the prior date-based guidance by economic thresholds after the asset purchase program ends.

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Sentiment Buoyed by FOMC QE3 Expansion