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U.S. ECONOMICS: Taper Tantrum Round Two? - Asks Miller Tabak
By: MT Newswires
Andrew Wilkinson, Chief Economic Strategist at Miller Tabak & Co. LLC, has issued a paper entitlted 'Taper Tantrum Round Two?' in which he says there is a danger to the global stock market rally as the December FOMC meeting draws closer. Wilkinson says equity investors must monitor how emerging markets deal with the escalation of taper talk following a healthy October payroll report. He has prepared a chart that contrasts the three-month downwards spiral fared by emerging currencies during the summer to the latest bout of pressure. "We believe that while pressure may continue to build-up initially, the dry-run over the summer may ultimately prove a healthy test before long," he says.