Like Pharaoh. Or God.
It's not bad, although one wonders what the author of the original Exodus might think.
What does it mean? Well, it could be argued that Merrill’s analysts spent less time analyzing what liftoff will mean than they did crafting a new portmanteau.
Here's the short answer: nothing much good, but nothing much bad, either.
The market has now endured two “taper tantrums,” Bank of America Merrill Lynch’s Ethan Harris wrote, and seems to be in a good state of mind as the central bank prepares for its “Fedexodus.” The market isn’t freaking out about China anymore, he noted, the economy is more resilient than in the past, and partisan brinksmanship is fading in Washington. At this initial stage of the Fedexodus, he sees reasons to be optimistic.
As ‘Fedexodus’ Looms, Big Stock-Market Gains ‘May Be Behind Us’ [WSJ MoneyBeat blog]