I don't know about anybody else, but I'm getting a bit sick of the FOMC autopsies and outlooks.
Ah well ... if I don't like it I can always read something else I suppose. Apparently there over 933 million websites out there, so plenty of options if I don't want to read about the Fed.
Enough whining ...
From Bank Of America / Merrill Lynch, in (very brief):
- They consider this a tactical delay
- Now expect the Fed to hike in December
On 'risk assets':
- Dovish Fed should be supportive
- But, the Fed ' s focus on weak global growth seems to be adding to the already very negative sentiment towards risk assets, especially risk assets in EM
BoA/ML warn on emerging markets:
- Valuations outside of the commodity space and Brazil are not particularly attractive
- EM investors are now much more concerned about fundamentals than about Fed policy