The first two sources of uncertainty have already affected markets. The rise in US long-term interest rates – from a low of 1.6% in May to recent peaks above 2.9% – has been driven by market fears that the Fed will taper QE too soon and too fast, and by the uncertainty surrounding Bernanke’s successor.
前两个不确定性源泉已经开始影响市场。美国长期利率的上升——从5月低点1.6%升至目前高点2.9%以上——是因为市场担心美联储会过早、过急的逐渐退出QE以及围绕伯南克继任者的不确定性。