Dallas Fed President Richard Fisher said Monday in an interview that "feral hogs" are testing the central bank, as bond yields have spiked higher. "Markets tend to test things," Fisher told the Financial Times. "We haven't forgotten what happened to the Bank of England [on Black Wednesday]. I don't think anyone can break the Fed . . . . But I do believe that big money does organize itself somewhat like feral hogs. If they detect a weakness or a bad scent, they'll go after it." Fisher said the central bank members fully understood there would be a significant market reaction to the notion bond buying could stop next year.
Hogs as in Slaughter
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