Stopped out last night but bought back in this morning at a lower price. Tonight Yellen will probably map out the winding up of QE, to be completed by next (Oct 24) meeting.
And probably not amend previous statements' "considerable length of time". So the market will get half of what it wanted: half of nothing.
Then things will settle down with the market worrying over each US economic announcement.
Yields should drop and hopefully go sub 2.4, However once QE is wound up yields might just rise on the announcement. They may not go down again as the next move (whenever it is) is for o/n rates to lift. That could be mid '15. So I expect some real pressure after 24th Oct next.
