WSJ broke this tonight. The icing on the cake of a massive bond selloff day that sent rates higher by at least .125%. Not a huge amount of new information in the article, but it’s still a foreshadowing of the May 1 FOMC minutes due May 22 that will likely reveal more bias toward an imminent winding down of QE than the May 1 FOMC statement revealed.
UPDATE: Must read this weekend is Josh Brown’s 9 Ways The QE Winddown Will Play Out, which he wrote in reaction to the WSJ piece.
FED STRATEGY FOR WINDING DOWN $85b/month BOND BUYING PROGRAM