Quick market note.
US futures just fell a bit.
Here’s a chart from FinViz of Dow futures:
St. Louis Fed chief James Bullard just hinted on BloombergTV that an October taper (reduction in the pace of bond purchases) is possible.
From Dave Lutz at Stifel, Nicolaus:
James Bullard, a Centrist — is out speaking right now, saying that a October taper is possible — We are seeing Gold, Equities and Bonds getting hit — and the rhetoric today may intensify as we have 2 big hawks scheduled to speak today as well (Details in WTAW) – EEM, Gold, Bonds, equities not very happy right now. Couple that with DC Rhetoric on Food Stamps and Debt votes – and the tape has a few headwinds to deal with.
One interesting comment from Bullard is that if they want they can have a press conference after the October meeting, even though that’s not scheduled.