Nick Parsons, head of markets strategy with National Australia Bank tells NDTV Profit that the risk of QE tapering has not gone away, despite the surprisingly sharp downward revision to first-quarter U.S. economic growth. He feels that equity markets are on a technical rebound on bargain hunting, but the upward moves are not being established as a trend, and the stance on emerging markets is still cautious.
He believes that all the smart money is waiting on the sidelines.
