The key issue for markets in 2014 and beyond is when the first rate hike might take pla...

THE KEY ISSUE FOR MARKETS IN 2014 AND BEYOND IS WHEN THE FIRST RATE HIKE MIGHT TAKE PLACE AMID THE FED'S COMMITMENT TO ULTRA-LOW INTEREST RATES, SAYS MANPREET GILL OF STANDARD CHARTERED. PLEASE NOTE: EDIT CONTAINS MATERIAL THAT WAS ORIGINALLY 4:3 SHOWS: SINGAPORE (JANUARY 9, 2014) (REUTERS - ACCESS ALL) MANPREET GILL, HEAD OF FIXED INCOME, CURRENCIES AND COMMODITIES STRATEGY, STANDARD CHARTERED 1. (QUESTION GRAPHIC) "The Fed expects the U.S. economy to bounce back strongly this year. What are you views?" 2. MANPREET GILL SAYING: "No we are not surprised at all. I mean it fits very well with our view that developed market equities, particularly the U.S. are likely to be, you know, the best performing assets in this year as well. And if you think about the Fed's stance itself, the very fact that they commence tapering, you know, earlier than market consensus expectations, by itself, was a great signal that they were fairly confident in their outlook for the U.S. economy. And economic data we received in the last two weeks of December, if anything, supports that fact. And if you look at indicators like the NHB housing price index, you are looking at durable goods, eyes on manufacturing, I mean everything we saw from about 15th of December onwards was very, very strong. So you know, it matches with our view, it clearly fits to the recent economic data. And I think the minutes really sort of back up what we saw in terms of actual action from the Fed. So all in, you know, really quite a consistent picture in our view." 3. (QUESTION GRAPHIC) "Do you expect the pace of tapering to increase?" 4. MANPREET GILL SAYING: "I mean it's possible. But it's not something we are really taking a strong view on. I mean, to us, the Fed has already started on a bout of tapering. And given that they have started, it's really hard for them to say that, you know, we are going to pause or potentially cut back on it. Increasing the pace, yes it's possible, but in our view, the market has already moved beyond this point. And by the time you reached the second quarter, it's very likely the conversation already shift to what after tapering. So in that sense, whether the taperin...