The Fed announced a taperand stocks are spiking.
The Dow is up 275 points and the S&P 500 is up 28 points.
Gold is basically unchanged and bonds are now higher, with the yield on the 10-year at 2.89% (up 5 basis points from yesterday’s close).
The Fed will taper its asset purchasing program to a monthly rate of $US75 billion from the current $US85 billion pace, the FOMC just announced.
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