Whether another QE by the US Federal Reserve would have similar impact on assets this time?

Is another round of monetary stimulus by the US Federal Reserve, otherwise known as quantitative easing (QE3), in the offing? While the American central bank is yet to give the market any hint of such an action immediately, the Wall Street has already started pinning hopes on a QE3 as a disappointing May jobs data have intensified fears that the economy is slipping again.

The latest Reuters poll shows there is a 50% chance of the Fed launching a QE3, while a similar poll early in May gave only a 33% chance to this outcome.

Emerging market stocks and commodities benefitted from such doses of central bank spending in the past three years. The question is whether another QE would have similar impact on assets worldwide this time around