Sentiment Improved as Fed Likely Keeps QE for Longer

Investors' confidence picked up ahead of the FOMC announcement. It is widely anticipated that the Fed would maintain its existing asset purchase size and schedule this month. More importantly, the market expected tapering would be push back to early next year from previously speculated December 2013. Encouraging corporate earnings offset disappointing economic data.

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Sentiment Improved as Fed Likely Keeps QE for Longer