The last week has been dominated by sell-side strategists raising hawkish concerns about this week’s FOMC with a focus on the drop of the “considerable time” language describing the period from the end of QE to the start of rate hikes. The Wall Street Journal’s Fed-whisperer Jon Hilsenrath just dropped a rather large hint that that the “considerable period” language will remain… and bonds are rallying.
Via The Wall Street Journal discussion…
“The headline, when we read the statement tomorrow, the words “considerable time” are still going to be there.”
However, Hilsenrath adds,
“but I think the comments will be qualified in the Yellen press conference that follows.”
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This combined with China’s unleashing of its 2nd QE surge in the last few months has sparked exuberance as far as the eye can see.
via Zero Hedge http://ift.tt/1u2B4F4 Tyler Durden