If Ben announced that the FED RES is no longer monetizing the debt why did Long Bonds Rally?
John Q investor is on the wrong side of this trade.
Federal Reserve has said in their last minutes that they bought back $3 Trillion in long bonds and now are out of ammo.
The Fed Res oracle original plans are Unemployment rates were targeted at 6.8% for the monetize program to end.
Not going to happen.
USA is broke and the economy Q just blipped down .1%.
Ben will share his views:
Chairman Ben Bernanke will be pressed to clarify the Federal Reserve's approach to the still-sluggish U.S. economy when he testifies to Congress this week.
Bernanke will give his semiannual report to the Senate Banking Committee on Tuesday and the House Financial Services Committee on Wednesday.
Lawmakers will likely question the chairman about the future of the Fed's bond buying program, his view of the economy and his concerns about the budget impasse between Congress and the Obama administration.