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