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IS THE MARKET EXPECTING TOO MUCH QE?

Mike O’Rourke of BTIG says the market is expecting far too much of the Fed in November.  He says the Fed is likely to act in increments as they always do with interest rate announcements.  Therefore, O’Rourke says the current expectations of a $1.2T QE2 announcement at the next FOMC meeting is likely priced in already and far too optimistic.  O’Rourke believes they’re unlikely to announce the “shock and awe” that the market is currently expecting:

Source: Bloomberg

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