- Not tapering in September was a real close call, St. Louis Fed chief Jim Bullard tells CNBC, but the non-move enhanced the Fed's credibility as it proved the taper decision was data dependent (the flip side: "data dependance" is code for "we're in the dark").
- As for the D.C. shutdown, Bullard brushes it off as not that big of a deal and says the Fed won't wait for political calm to start tapering.
- "We've made substantial progress in labor markets," he says, adding that's he encouraged by early Q3 GDP estimates (we're more than a month into Q4; "in the dark" indeed).
- Given the chance to take boosted QE off the table, Bullard refrains, but does say it would be highly unlikely.
- Treasurys have given up some of their gains since Bullard hit the airwaves, with TLT back to flat premarket.
- ETFs: TBT, TLT, TMV, TBF, EDV, TTT, TMF, ZROZ, TLH, SBND, DLBS, VGLT, UBT, TLO, FSA, LBND, TENZ, TYBS, DLBL.
Bullard: Shutdown not a big deal
Nov 4 2013, 07:36 ET