Credit investors nervous over withdrawal of QE2

Credit investors nervous over withdrawal of US quantitative easing programmes

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Fed chairman Ben Bernanke

In November 2008, the US Federal Reserve began a purchasing programme that brought around $600 billion of mortgage-backed securities onto its books. By June 2010 the Fed’s accumulation of bank debt, MBS and Treasury notes amounted to $2.1 trillion (including the $700–$800 billion it already had on its balance sheet before the crisis). It began a second round of easing, known as QE2, in November 2010 and had purchased a further $600 billion of Treasury Securities by the end of March 2011.

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