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New York Mercantile Exchange

Commodity prices soar as Fed launches QE3

LONDON, September 16, 2012 Commodities surged this week, with many striking multi-month peaks after the Federal Reserve embarked upon new stimulus plans to boost the US economy, a major consumer of raw materials. Global markets rallied after the Fed said Thursday it would start a third programme to purchase $40-billion per month in mortgage-backed bonds—known more commonly as quantitative easing (QE3). “As the Fed embarks on a third round of quantitative easing, risky assets are rallying…

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