There is a rumor the Fed will announce a taper next Tuesday. It’s said to be $5-10 billion.
It’s hard to put together a coherent story in markets today but with S&P 500 futures 1% lower and 10-year yields up 5 bps to the highest in 16 months, tapering would be one way to explain it. Sometimes the rumor follows the market move, rather than the other way around. I just don’t see how the Fed could taper at the moment.
