The market implications of the FOMC's attitude to tapering

We have reviewed our key market forecasts in light of the FOMC’s largely unexpected decision to delay a tapering of its asset purchases. The new numbers are presented in the tables on pages 1 and 2. Most of the changes that we have made are to our near-term projections. We have not fundamentally altered our view of how bonds, equities and currencies will perform through the end of 2015. 

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