Late Friday afternoon bond markets began taking chips
off the table ahead of this week’s FOMC events. This is
the week we have all been waiting for, the central bank
starts a two day meeting tomorrow. 10-year yields fell
from a 14-month high last week amid skepticism policy
makers are moving toward reducing bond buying. The
recent rise in yields suggests the market is nervous
that the Fed will soon reduce stimulus. Hopefully,
Bernanke will calm the market down and reaffirm their
monetary policy. Maybe that is just wishful thinking on a
Monday morning.
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