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Bonds Dip Again As Fed Chair Powell Presser Continues

US TSY FUTURES
Bonds still outperforming but pared gains after Fed Chairman Powell touched upon tapering:
  • "The committee discussed the progress made toward our goals since we promoted asset guidance. Since then the economy has made progress toward these goals. If progress continues, a moderation in the pace of asset purchases may soon be warranted. We also discussed the appropriate pace of tapering asset purchases once economic conditions satisfy the criterion laid out in the committee's guidance."
  • "While no decisions made, participants generally view that so long as the recovery remains on track, a gradual tapering process that concludes around the middle of next year is likely to be appropriate."
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