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FOMC Decision Was A Big Surprise: Bill Maldonado

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September 19: Bill Maldonado, CIO Asia Pacific at HSBC Global Asset Management, says the Fed’s decision was not a reaction to economic faltering but financial tightening conditions. “It would be beneficial for emerging markets to get the tapering under way,” he says, adding that the reduction in accommodation is tiny and imperceptible yet has been playing havoc with emerging markets. “EMs have overreacted to the taper,” with the anticipation being worse than when it actually happens, he adds.