Fed Outlook
In the U.S., Federal Reserve Bank of Dallas PresidentRichard Fisher said yesterday the nation should resume normal monetary policy as soon as possible, while Fed Bank of St. Louis President James Bullard said policy makers keep the current pace of stimulus even if the job market improves. The Fed currently buys $85 billion a month of bonds to bolster the world’s largest economy and damp borrowing costs.
“Tapering hasn’t happened yet, but it’s certainly hanging out there and is likely to happen probably sometime in the first quarter of next year,” Peter Jankovskis, who helps oversee $3.5 billion as co-chief investment officer of Lisle, Illinois-based Oakbrook Investments LLC, said by phone. “That’s a big factor weighing on the commodity markets. As they ease out of that program, the economy will have to stand on its own two feet, and that’s going to take some time.”
Gold rose 0.1 percent to $1,315.64 an ounce, after closing at the lowest level since Oct. 16 yesterday following five days of declines.
Article Appeared @http://www.bloomberg.com/news/2013-11-04/asian-futures-gain-after-commodity-slump-as-aussie-steady.html