Salient to Investors:
Christopher Sullivan at United Nations Federal Credit Union said Bernanke went out of his way to comfort and convince the markets that a reduction in QE is by no means to be regarded as a financial tightening, and that easing remains highly conditional.
Fitch cut France’s credit ranking to AA+ from AAA. while Dan Mulholland at BNY Mellon Capital Markets said there is pressure on Portugal, which is significantly higher in yields.
Charles Plosser at FRB of Philadelphia said the Fed should begin tapering in September and end the QE by year-end.
Donald Ellenberger at Federated Investors said the Fed has been able to arrest the rise in yield, but it is clear they have rung the bell and the beginning of the end of easing is upon us, though still a little ways down the road.
MacNeil Curry at Bank of America Merrill Lynch said we are in a bear trend and the momentum points to higher yields – a 10-year yield break above 2.62 percent would signal a rise to as high as 2.95 percent.
Read the full article at http://www.bloomberg.com/news/2013-07-13/treasuries-rise-most-in-year-on-bets-stimulus-to-continue.html
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