Another month has passed and that means another FOMC announcement. Treasuries were down this morning amid speculation the Fed will announce a reduction in bond purchases. Economists agree the reduction could be to the tune of $10 Billion a month, mostly in Treasuries. Housing starts rose in August according to a Bloomberg survey. Today the market is reliant on Ben Bernanke and his announcement today. However, many believe the “tapper effect” is already priced into the market. We will see today….
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