Treasuries Tumble on FOMC Comments

Treasuries fell after the FOMC's policy statement adjustment sparked uncertainity about the timing of rate tightening

The early rally became a memory once the FOMC released its rate policy statement, eliminating "considerable period" in favor of being "patient" and changing almost all the important wording. No one expected the Fed to do this, and the reaction was massive selling -- the likes of which the Street had not seen in a while.

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