Fed Finally Announced Tapering, Dollar Rebounded, Stocks at Record High Fed finally announced to start tapering the asset purchase program last week and outgoing chairman Bernanke noted the central bank might cut the pace of bond purchase by USD 10b in every meeting starting January. Fed also released latest economic projections which painted a better outlook for the economy. Dollar was lifted by generally positive news. The better economic outlook boosted US equities with DOW closing at another record high of 16221.14. S&P closed up at 1818.32, also a record. Treasury yields, however, didn't follow but reversed on Friday, with 30 year yield dipped to close at 3.824%. 10 year yield also closed down at 2.887%. The coming week will be shortened by holidays and we'd expect trading activities to be subdued. Full Report Here... | 
|
No comments:
Post a Comment