Trader Talk

Quantifying QE3 Premium in the Market

Now we know how much QE3 premium was in the market.

Stocks began to fade about 10:30am ET. That's when Mr. Bernanke, testifying for a second day in Congress, responded to the question "Why not start a new round of easing?" — by saying that the Fed was "not prepared to take further action."

Why not? Because they are projecting the economy to pick up and inflation expectations long-term are close to target. S&P 500lost about 8 points on those comments.

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