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Wednesday, Jul 10
More on FOMC minutes: Nervous stock (SPY +0.2%) and bond markets (TLT -0.4%) erase at least part...
More on FOMC minutes: Nervous stock (SPY +0.2%) and bond markets (TLT -0.4%) erase at least part of their losses following meeting minutes which don't contain any hawkish leanings the markets didn't know about 3 weeks ago (the date of the meeting, policy statement, and Bernanke press conference). There's again mention of St. Louis Fed Jim Bullard's dovish dissent in which he feels the FOMC should signal more strongly its intent to defend the 2% inflation target from the downside. Gold (GLD +0.9%) gets a lift, continuing a multi-session bounce from below $1,200, now up to $1,259/oz.