Alroy Commentary – A day without QE
In Alroy commentary issued on 13 June 2013, it pointed out global equity and currency markets would keep vibrating until Fed unveiled its formal decision to end the bond-buying program. After Fed’s two-day policy meeting, Fed announced that central bank will be flexible on bond-buying program to stimulate economic growth. Due to economic data, especially jobless rate, were not strong enough to ensure economy growth without QE, Fed preferred to extend the program. But, in long term, Fed would be happy to see that the economy and financial market standing firm on their own.
Based on inference above, we have weighted the level of defense funds, at the same time, emerging market fund should be avoided.
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