All the good things come to an end. Fed’s Bernanke left us with the impression that “this time is different”. And if there is anything the spike in US Treasury yields and USD last week prove, is that it got too crowded on the “Fed will taper the tapering” bench ahead of the FOMC meeting. Fair enough – communication is a two-way thing, and Fed wants to test the markets before pulling the plug. But if they had been “a little puzzled” about the May move in rates…
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