Financial Markets Declined as Fed Officials Leaned Towards Tapering in Near-Term

The Fed’s July meeting signaled that more members were now leaning towards tapering QE measures later this year if economic data warrants. While there have been speculations of the QE reduction from September, the market reacted after the minutes was released. US dollar and the Treasury yields soared but the Wall Street declined with the DJIA and the S&P 500 indices losing -0.59% and -0.62% respectively.

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Financial Markets Declined as Fed Officials Leaned Towards Tapering in Near-Term