Vladimír Urbánek (Kurzy.cz)
Markets  |  October 25, 2012 09:47:38

Fed yesterday did not report anything new or did not show, which was disappointing


U.S. Fed chief on the occasion of the regular two-day meeting of the FOMC Monetary Affairs announced that the preview committee on economic development in the country has remained almost the same, only there were comments about the slightly faster recovery in consumer spending than expected and that the unemployment rate remains elevated. That's according to comments suggesting that the Fed will want to see coherent and sustainable improvement in the labor market than change their view of him. Recent improvements towards step below 8% will be will have to further confirm that it was able to change the view of Monetary Affairs.
Rates remain at a record low at least until mid-2015. The market, however, in this context, did some hope that the Fed may be more divorced his earlier idea of ??the next steps QE bind with a particular macroeconomic variable.Comment Although the Monetary Committee confirmed that unemployment is one of the most important areas, but no specific links to the stimulus measures have not been established. It was a disappointment for the markets, which soon resulted in a decline in U.S. government bonds and also in decline until the rising U.S. equity markets.

FOMC will have to the end of December to decide whether to extend the current operation Twist, so if bde continue to replace expiring bonds with shorter maturities for bonds with long maturities. So far under this program, the Fed month "exchanges" bonds worth about 45 mld.USD. Fully 72% of 60 experts and analysts believe that the Fed quits Twist. Instead, then comes the classic buy assets or bonds in the market, the extent of which will depend primarily on the development of key labor market.It is estimated that the Fed will buy about 25-45 mld.USD.

Next FOMC meeting will be held on 11 to 12 December this year, ie after the presidential elections held on the 6th November.
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