40% Chance of QE3 - Analyst

Strategist Eric Green of TD thinks there is a 40 percent chance that the Fed will deliver on so-called QE3. The recent step to extend Operation Twist is a step in that direction, although not everyone agrees. More QE would be concentrated on mortgage backed securities and would only have a modest effect. Short term flattening momentum is not likely to continue, and longer-term rates could end the year higher than current levels, notes Green.

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