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Minyanville's T3 Morning Market Call: Narrow Your Focus in Dizzying Tape
By: Minyanville Headlines
Posted on December 13, 2012 at 09:44 AM EST
US stock futures are down slightly this morning after we saw another bearish reversal yesterday afternoon. The market initially ticked higher following the Fed announcement which was highlighted by the unveiling of an additional $45 billion in monthly Treasury purchases. That $45 billion is tacked on the already $40 billion in monthly mortgage-backed securities purchases and at this rate the Fed will add nearly a trillion dollars to its balance sheet in 2013. Chairman Ben Bernanke spoke extensively about the Fed's employment mandate saying he will be very accommodative until unemployment falls to around 6.5%. However stocks could not ...
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