Market Review It was another repeat performance for stocks yesterday – small dip, long entry, new highs – this is the pattern and this enabled our S&P strategy to hit our second profit target again. The session was reasonably uneventful until Fed’s Bullard delivered some monetary policy comments that were a fair distance away from his normal hawkish stance. He said: US recovery is slower than expected, QE has been the most reliable tool and ‘Urges’ continuation of current QE programme.
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The BoE minutes showed a continued 6-3 vote against further QE