I didn’t see that one coming. In an unexpected turn of events, Ben Bernanke announced yesterday that he will not be tapering bond purchases this month as expected. The Fed stated job growth is not where they would like it to be as the reason for the decision. Bonds rallied on the news, causing a rare re-price for the better. Purchases of previously owned homes fell 2.6 percent in August according to a report due out at 10 AM today. We will see if anyone notices.
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