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12 Sep 2013
Flash: US market strength reiterates pledge to taper – Deutsche Bank
FXstreet.com (Lisbon) - The probability of some kind of tapering next week has probably been getting ever higher since September started due to the rebound in markets, suggests Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank.
Key quotes
Indeed, “the S&P 500 (+0.31%) climbed for the 7th successive day yesterday as markets continue to welcome the back-down in Syrian tension and hopes are also being raised that last Friday’s weaker-than-expected nonfarm payrolls will deliver nothing more than a mini-taper at next week’s FOMC.”
“On the Syrian situation, Russian President Vladimir Putin penned an interesting Op-Ed in the NY Times which was published overnight. In the Op-Ed, Putin challenges the arguments put forward by Obama, writing that no one doubts that poison gas was used in Syria. But there is every reason to believe it was used not by the Syrian Army, but by opposition forces, to provoke intervention by their powerful foreign patrons. So while military action seems more distant at the moment, the global political debate looks likely to rumble on in the background for a while.”
Key quotes
Indeed, “the S&P 500 (+0.31%) climbed for the 7th successive day yesterday as markets continue to welcome the back-down in Syrian tension and hopes are also being raised that last Friday’s weaker-than-expected nonfarm payrolls will deliver nothing more than a mini-taper at next week’s FOMC.”
“On the Syrian situation, Russian President Vladimir Putin penned an interesting Op-Ed in the NY Times which was published overnight. In the Op-Ed, Putin challenges the arguments put forward by Obama, writing that no one doubts that poison gas was used in Syria. But there is every reason to believe it was used not by the Syrian Army, but by opposition forces, to provoke intervention by their powerful foreign patrons. So while military action seems more distant at the moment, the global political debate looks likely to rumble on in the background for a while.”