Markets Just Fell: Is An October Taper Now On The Table?

Quick market note.

US futures just fell a bit.

Here’s a chart from FinViz of Dow futures:

What happened?

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.

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