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Markets finally absorb Fed's two-track message

from Money News

After months of misfires, the U.S. Federal Reserve's message is finally getting through to Wall Street: to taper is not to tighten. Even as the U.S. central bank moves closer to winding down its massive bond-buying program, most likely in the first quarter of 2014, short-term rate futures have rallied, pushing expectations for the first Fed rate hike deeper into 2015. Traders now do not see the Fed raising short-term borrowing costs until at least July 2015, if not later, based on trading in CME Group's Fed funds futures. more


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