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What happened last week, as with every other recent market pullback, was another rinse-repeat cycle as wait for it - despite news of the Fed wanting to taper and of more COVID shutdowns early in the week.
There are now reports the Fed, due to concerns about COVID may put off the increasingly expected and stealthily underway tapering of QE in the US.
As a result, we may have a double barrel of QE heading down the pike as the Fed and the PBOC once again hit the digital money printing presses and the Fed changes its mind.