October Data & Taper

“Consensus now believes September data should be ignored, October data will either be weak or messy, and Fed will taper in early 2014 – not December of this year. participants in the US Treasury market have dramatically changed their stance in the last couple of weeks. After fearing for higher yields for most of the summer, the market has shifted to a concern for weak Q4 growth and a belief that the Fed will continue its ultra easy policy.” (Goldman Sachs)

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