The 'tourist contrasts the 2013 taper tantrum to this cycle's market action

Well, it’s finally here. Today, Jerome Powell announced the Federal Reserve would officially start their taper. The details were exactly as the market expected; $10 billion of Treasury securities and $5 billion of agency mortgage-backed securities lopped off each month’s quantitative easing purchases.

There is plenty of analysis out there, so I won’t bor…

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