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The markets' disruptive short-term fetish

from Chicago Tribune

Over the last two weeks, markets have again confounded any attempt to explain their short-term gyrations by looking at historical patterns, in particular by focusing on the influence of central banks. First, there was a counter-intuitive sell-off in risk markets in response to a relatively dovish signal from the Federal Reserve, the world's most powerful central bank, which left interest rates unchanged at its September meeting. more


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