Joined Nov 11, 2007
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Markets Rally Full Retard on Dovish Tapering Move

“Citi currency analyst Steven Englander explains why the market surged on the news that the Fed will scale back its pace of asset purchases. Here’s the sentence, and then below, the explanation:

The Fed Statement is being viewed as a very dovish tapering – small reduction in purchases, indication weakening of unemployment trigger, UR trigger now conditional on inflation, no date for end….”

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