$600 Billion A Year Eh?

So the Fed is going to shed $600 billion a year in bonds, beginning this year and going to that level in 2018 yet both long-term interest rates and the stock market ignored that?
May I remind you that this is awfully close to the rate of accreation.
Here’s reality: The market doesn’t believe The Fed.

This post was published at Market-Ticker on 2017-06-14.