From Zero Hedge:

Fed and/or ECB intervention is coming: whether it is called LSAP, QEx, nominal GDP targeting, selling treasury puts, or what have you.

A regime that now exists only by central planning intervention, by definition, requires ever more central planning intervention to sustain itself, let alone grow further. Furthermore, the banks not only want QE, they need QE. And since central banks serve other banks, not the people, it is only a matter of time. Don't believe us? Read anything written by Bill Gross in the past year. So what to do ahead of QE3?

Luckily, SocGen has released a complete cheat sheet of not only the dates of the next steps, but what to buy and what to sell ahead of the announcement. In short - one should buy mortgage-backed securities (MBS), in order to "simply buy MBS before the Fed" - something Bill Gross knows too well and has been hoarding MBS relentlessly as a result, as reported here. More importantly - one should buy...
 
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More on QE3 and the Federal Reserve:

Jim Rogers: This is what QE3 will do

The absolute must-read editorial of the week... of the month

Bond king Bill Gross: More "QE" could send interest rates soaring