Dallas Fed President Richard Fisher (non-voting), considered one
of the most hawkish members of the Fed, told his San Antonio
audience that he tried to convince his colleagues on the FOMC to
reduce asset purchases by at least $10 billion to avoid the
uncertainty regarding Fed policy that currently plagues the
Since Fisher was never a proponent of QE3 and many times voiced
his concern that a continuation would "monetize the debt" and could
undermine financial stability, his comments against last week's
decision is not having a detrimental impact on the fixed-income
markets. Yields along the curve continue to press lower. The 10
year last traded at 2.72% with 2.70% offering near-term
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