US DATA: BOA/ML economists says their reading of…..

US DATA: BOA/ML economists says their reading of yest FOMC minutes
suggests more QE is not imminent, noting the “reemergence of
deflationary risks.” While they do not expect the Fed to embark on QE3
in the next several months, but “we see better than even odds of a
resumption of Fed asset purchases later in 2012 as fiscal policy
uncertainty again puts the economy at risk of another downturn. We do
not expect the Fed to start hiking interest rates until Q3 2014, with a
sizable chance, in our view, that it could be later.”