Wall Street eased as Fed minutes disappointed on QE3 clues, but stimulus can still be expected by Christmas.

The Fed’s minutes out this morning didn’t offer too much that was new. I guess the important thing to take out of them is there was no clear signal that QE3 is coming which at this point is what a lot of punters are expecting. Regular readers know I think QE3 is pretty much locked in at this point – the PR campaign has already started and only the timing remains uncertain (watch the primary dealers for a better idea of exact timing). Year end is a good bet when we get all the theatrics surrounding the looming ‘fiscal cliff’. What a Merry Christmas that’s going to be. Thankfully we’ve got cricket.


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