Jay Powell and his group have been talking taper for months. The build up has been excruciating to some, if only because this central banker adjustment is supposed to mean something. Something especially big specially to bonds who just can’t thrive, everyone says, without the “monetization” of QE. With first less and then no Fed, who will buy them? Too many Treasuries, right? So, as the leadup to taper, yields that were gently rising were said to be inspired by this “hawkishness.” Then, even before the actual announcement Wednesday, yields have gone back down again, big move today, which is said to be because of how ... (full story)