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Michael Michaud is the founder of Invest2Success.com (http://www.invest2success.com/) and the Invest2Success Blog (http://invest2success.blogspot.com/). He has been investing and trading in the financial markets since 1989. He founded Invest2Success.com to empower individual institutional... More
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  • The FED Will Probably Begin Reducing $85 Billion In Monthly Bond Purchases At Next Weeks Meeting 0 comments
    Dec 9, 2013 4:25 AM

    The FED Will Probably Begin Reducing $85 Billion in Monthly Bond Purchases at Next Weeks Meeting

    Stocks up and US dollar down, after Non-farm payrolls on Friday…but for how long?

    Asian shares: Japan's Nikkei 2.29%, Hong Kong's Hang Seng 0.29%, Korea's Kospi 1.01 %, Australia's ASX 200 -0.72% and China's Shanghai 0.05%.

    Survey: The FED will probably begin reducing $85 billion in monthly bond purchases at a Dec. 17-18.

    German exports increased by 0.6% and imports decreased by 1.6% in October 2013 on October 2012.

    ECB Weidmann: The European Central Bank has the tools to counter an excessive slowdown in inflation and would act if necessary, but some carry unwanted consequences. The ECB has signaled its readiness to act against the threat of falling prices but has yet to come up with a detailed plan of which policy tools to use and when. "I don't want to speculate about future monetary policy moves. But, rest assured, we still have other tools at our disposal. We are ready and able to act,"

    No troika deal in December as Greece falls behind with bailout pledges.

    Philadelphia Fed President Charles Plosser told on Friday that it's probably time to "gracefully exit" the central bank's quantitative easing bond purchases because the November jobs report was more evidence of a strengthening economy. The report showed nonfarm payroll growth of 203,000 jobs and an unemployment rate that dropped to 7 percent.

    The difference between 10- and 30-year Treasury yields narrowed to the least in almost three months on expectations inflation will be in check as the Federal Reserve reduces its support for the economy. The Federal Open Market Committee will probably begin reducing $85 billion in monthly bond purchases at a Dec. 17-18 meeting, according to 34 percent of economists surveyed by Bloomberg.

    Japan's economy expanded 0.3 percent in July-September from the previous quarter, government data showed on Monday, revised down from a preliminary 0.5 percent increase. The downward revision underscores the fragile state of Japan's economic recovery, now enjoying a temporary boost from pent-up demand ahead of an increase in the sales tax next April.

    Bank of Japan Governor Haruhiko Kuroda said central banks should avoid offering overly complicated forward guidance on their policies, warning that doing so could disrupt financial markets and prove to be counter-productive. He also said that exiting from the current ultra-easy monetary policy may be more difficult than when the BOJ last ended its quantitative easing in 2006, because the bank now loads up on more long-term government debt and risky assets.

    China's exports rose more than estimated in November while imports trailed projections. Overseas shipments rose 12.7 percent from a year earlier. That compares with the 7 percent median estimate of 42 analysts. Imports gained 5.3 percent, compared with a median projection of 7 percent.

    China's inflation slowed more than estimated in November as the decline in factory-gate prices eased. The consumer-price index rose 3 percent from a year earlier. That compares with the 3.1 percent median estimate and a 3.2 percent increase in October. The producer-price index fell 1.4 percent, compared with a median projection for a 1.5 percent decline.

    Australia Job advertisements have weakened again, but there are signs of improving demand in some states, a private survey has found. ANZ's monthly jobs survey, released this morning, found the rate of decline in ads was slowing. Job ads fell 0.8 per cent last month, after decreasing by 0.1 per cent in October.

    Watch today: Germany's surplus & output, EU confidence.

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