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Thursday, December 19, 2013

Stock euphoria calms after dovish Fed taper.

Asian equities were mixed and European shares were in the green at the time of writing following the Fed's candy coated announcement that it's cutting its bond-buying program by $10B a month to a mere $75B. What's got investors particularly giddy is that the Fed emphasized that it will keep interest rates at minimum levels for a while to come. The Nikkei jumped 1.7% to 15859, its highest close in six years, although Chinese shares fell on rising money market rates. U.S. stock futures were lower after Wall Street soared yesterday.

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