Posted 10 months ago on June 19, 2013, 6:30 p.m. EST by quantumystic
from Memphis, TN
This content is user submitted and not an official statement
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."
read the rest here:
Ha ha ha ha ha ha ha it has begun, it would be smart to get all your money out now.