Briefly, on the Bond Market
Here are some quick hits on the bond market today.
● Headline: Stocks and Bonds Fall as Fed Chief Ben Bernanke States the Obvious. I'm not sure what people were expected from Bernanke Tuesday. But, apparently, people were surprised by his statement that the Fed lacks unlimited ability to offset any and all economic downturns. If we polled macroeconomists, 99.7% would agree with that statement. Bottom line: The Fed is set to expand its third round of quantitative easing when Operation Twist rolls off at the end of the year, and the QE will last until through all of 2013. Other members of the Federal Open Market Committee have practically said as much in earlier speeches, but for some reason only the chairman's word matters....370 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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