The US Treasury is due to lose the biggest buyer of its debt within a few months. Already, however, investors are asking what will happen when the Fed stops being the dominant buyer of US government debt. Will the end of its second round of asset purchases under quantitative easing – dubbed QE2 – change the direction of financial markets?
Views are divided on what impact this will have on bond yields, stock markets and other risky assets such as junk and emerging market bonds which have all notched up two years of spectacular gains.
Those investors who believe the strong “risk on” rally has been fuelled by a huge influx of central bank liquidity say that pulling this back may have sharp negative effects on markets as investors switch gears.
您已阅读15%（748字），剩余85%（4184字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。