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These Are Not Normal Markets

July 18, 2017 : Permanent Link

(Harvest) Four years ago, markets threw a “tantrum” when the Federal Reserve hinted at tapering its quantitative easing (QE) program. Over the past fortnight we’ve endured a “mini-tantrum” in government bond markets as the Fed girds itself to shrink its balance sheet and other central banks have adopted a more hawkish tone. The end of QE may be finally becoming a reality.

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