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The Fed, by which I mean Chairman Ben Bernanke and his core supporters, may move to create an impression that the central bank wants to see more, and better, data before it begins to shave back bond purchases. This could be a speech or series of comments by Fed officials, or it could be a story in the press citing sources within the central bank. If this happens, look for a stomping rally, and an equally joyous run-up in emerging markets, which are facing keen currency and funding pressures due to taper anticipation.
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