We applaud Rocky for his long stock hedge, and note that treas will issue less bonds which is making basis viral for shorts.

Comment: As we suggested in September, the Fed was on hold for 2013, and we now know will begin tapering in January 2014 similar to 1999/2000 when Greenspan ended Y2K liquidity….

By the time the Fed next meets, they will know the employment numbers which we have forecast to show strength…

A review of Bernanke's book on Targeting Inflation shows that his forecasts anticipate interest rates 2 years forward.

Fed to Start Unwinding Its Stimulus Next Month 2013-12-19 08:14:08.154 GMT

By BINYAMIN APPELBAUM; Nelson D. Schwartz contributed reporting from New York.

Dec. 19 (New York Times) — WASHINGTON — The Federal Reserve said on Wednesday that it would gradually end its bond-buying program during 2014, a modest first step toward unwinding the central bank's broader stimulus campaign as its officials gain confidence that the economy is growing steadily.


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