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Forum Post: The End Is Nigh: US credit pounded after Bernanke signals tapering

Posted 5 years ago on June 19, 2013, 6:30 p.m. EST by quantumystic (1710) from Memphis, TN
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June 19 (IFR) - US credit markets were battered on Wednesday as Treasury yields spiked after Federal Reserve Chairman Ben Bernanke signalled a possible end to its asset purchase program later this year.

The credit markets have been reeling for the past few weeks amid speculation about the timing of a potential 'tapering' of the central bank's quantitative easing programme.

Bernanke's comments that the Fed may slow the pace of its bond purchases later this year and completely stop the program around mid-2014 brought fresh anxiety and sparked a bout of selling.

"It's a disaster," said a head of corporate bond investment at a large money management firm. "This is much quicker tapering than the market thought. It's more like a cold turkey taper."

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Ha ha ha ha ha ha ha it has begun, it would be smart to get all your money out now.



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[-] 2 points by TikiJ (-38) 5 years ago

Ironic that we are in the streets for 6 months screaming about ending the bailoluts, and now the entire system is so dependent on them that a "hint" of simply decreasing the amounts is going to do all of this...

Its why there is literally no way out of this. The entire system is dependent on printing money, and zero rate interest to save the amount of bonds they have been making and then buying and then reselling to themselves.

Thank you for this post. This is the root.

[-] 0 points by quantumystic (1710) from Memphis, TN 5 years ago

the whole deck of cards is coming down like, well like the world trade.