SCOREBOARD: Stimulus signpost

Ben Bernanke's signalling at Jackson Hole cements QE3. The only question now is timing.

Bernanke’s Jackson Hole speech sparked a modest risk rebound on Friday as the signal was sent, yet again, that further QE is coming. I view this more as a reiteration though, rather than something new. The FOMC made it plain to all that they were going to print again after the Fed’s minutes and readers may recall the two key words I highlighted that virtually told us that QE was locked in. Sustained and substantial.

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