Monday, September 2, 2013

The Big Bond Sale

India pushes 'shock and awe’ currency plan to save BRICS

“It is going to happen in a matter of days rather than weeks, Brazil and India can start the move,” said Dipak Dasgupta, a top Indian official. Mr Dasgputa told Reuters that China, Brazil, India, Turkey, Russia and South Africa have all been squeezed as the US Federal Reserve prepares to tighten monetary policy. Joint action would give emerging markets greater firepower, allowing them to deploy their combined $8.7 trillion (£5.6 trillion) of reserves and crush “speculators”, rather than being picked off one by one.

Posted by khards @ 03:10 PM (6205 views)
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4 thoughts on “The Big Bond Sale

  • mark wadsworth says:

    “This could backfire,” said Ian Stannard, of Morgan Stanley. “If they did this, they would have to sell US and European bonds and that would push up yields. It was rising yields that started this process in the first place.”

    Sounds good to me!

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  • A BIG step in the right direction.

    Expect all talk of tapering to die, I think QE will now be doubled….which is great, another step towards the end.

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  • It does look like and end game is now playing out as they can’t stop QE and more QE won’t help the economy. Perhaps war is their solution.

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