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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: MythMan who wrote (425371)12/13/2013 12:02:59 PM
From: Broken_Clock  Read Replies (1) of 436258
 
The Federal Reserve will conclude its policy meeting on Wednesday. Improving economic data and a budget deal in Washington have stoked expectations the central bank could move as early as next week or early next year to begin cutting the size of its $85 billion-a-month program of bond buys—the centerpiece of its quantitative easing strategy.

The prospect of smaller purchases has weighed on bonds, boosting yields, though some strategists see limited room for yields to rise further until the Fed pulls the trigger.

“We’d be surprised to see 3% levels [on 10-year Treasury yields] before the Fed next week, unless there’s ‘leaks’ that the Fed will taper,” said Steven Barrow, strategist at Standard Bank in London.



Bloomberg Enlarge Image
Federal Reserve Chairman Ben Bernanke
“If the Fed does scale bond purchases next week, we think 3% will be seen before the end of the year – probably before the end of the day. But if, as we think is more likely, the Fed resists, yields will slip back and we’ll have to wait a bit longer to get our 3%,” he said.

Treasurys posted little reaction to data that showed wholesale prices fell for a third straight month in November. The overall producer-price index, or PPI, fell 0.1% in November, while the core measure, which excludes food and energy, ticked up 0.1%. The readings were in line with forecasts by economists polled by MarketWatch.


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