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Valenti International: Timing Critical For QE3.

Valenti International - Markets may yet get their wish for a further round of easy Fed money.


Valenti International the European-based boutique brokerage, says that it is largely in agreement with assertions that the US Federal Reserve may launch a further round of quantitative easing when the current program of purchases of $600bn in US treasuries is completed.

The firm says that the timing of any additional asset purchases by the Fed would be critical if it was to be accepted by a US House of Representatives dominated by hawkish Republicans who are concerned about inflationary pressures building in the world’s biggest economy.

“With the price of oil still at elevated levels because of Middle East/North Africa unrest and the triple whammy of an earthquake, a tsunami and the threat of nuclear disaster in Japan seriously affecting stock and commodity prices around the world, Mr. Bernanke and the other members of the Federal Open Market Committee (FOMC) may be looking at ways to counter the effects on America,” suggested a “Valenti International” source.

The firm continues to support the gold trade arguing that, despite a sell-off in trading today, it still represents the only real and credible store of wealth.

Gold has retraced after reaching $1430 an ounce on safe-haven buying while the world’s focus was on Libya and “Valenti International” believes this represents a buying opportunity rather than an excuse to sell.

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