US: Fed up with QEII

- "Markets over interpreted the August FOMC statement - QEII is still not a done deal"
- "Whether we will get a new round of easing is a close call, but it will take time for the FOMC to agree."
- "We think it will take a continued weakening in the labour market, an ISM below 50 or a significant decline in inflation expectations to trigger the Fed"
- "Generally we attach a 40% probability of a new round of treasury purchases"

DenDanske Research 20100902

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