"QE to End in Q3"

If you do this stuff on a regular basis you probably figured out the timing and in fact this was one of the legs of our "Gold to $875 by the end of Q3" spiel.
Gold up $6.40 at $1330.70. Hmmm...
From Crossing Wall Street:

The Federal Reserve just released the minutes from its June 17-18 meeting. One surprise is that the central bank plans to end QE with a big $15 billion taper in October.
Here’s Binyamin Appelbaum in the New York Times:

The Federal Reserve intends to end its bond-buying program in October provided the economy continues to grow, according to an account published Wednesday of the central bank’s most recent policy-making meeting.

The minutes of the June meeting reflected the confidence of Fed officials that the economy had rebounded from a rough winter and their expectation that growth would continue over the next few years. But it also reflected the growing consensus that damage from the recession would continue to limit the pace of growth.

The Fed plans to add $35 billion to its holdings of Treasury and mortgage-backed securities in July, $25 billion in August and September, and a final $15 billion in October, according to the account. The Fed had previously left unclear whether it might extend the purchases by adding $5 billion in November and December....

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