Business insider published this poem that traders are passing around before today's announcement by Fed chairman Ben Bernanke. I thought it was interesting enough to share.
Our Ben,
Who art in heaven,
Hallowed Be-nanke,
Thy auctions come,
Thy Bill's be done,
In Two's as they are in Sevens,
Give us this day our daily Fed,
And forgive us our Treasuries,
As we forgive us who default against us,
And lead us not into recession,
And deliver us from deflation,
For thine is the borrowing, the easing, and the printing.
Forever and ever
Amen.
It's obvious that today's announcement will be a market mover. Traders are waiting on an indication on when the dreaded taper will begin and how it will affect the market. Stay tuned and pay close attention. However, the skeptic that I am expects nothing today, no change in plans. Bernanke will reaffirm the link between QE purchases and economic growth (unemployment in particular).
Till later.
Trade well.
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