T'was the week before Christmas
T'was the week before Christmas and in TradingFloor land,
Few traders were stirring and their trades were unplanned.
The rest of the players studied charts with great care
In hope that Bernanke would answer their prayer.
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The economists and strategists were scratching their heads,
Attempting to predict the words from the Feds.
With visions of tapers enhanced by nightcaps,
They reread old speeches and then needed long naps.
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When out in Washington there arose such a clatter,
Traders sprang to their desks to see what was the matter.
They scrolled through the chat lines, news feeds and Squawks
To see what had happened, what was the talk?
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The noon-hour beers had been downed rather quick,
Which made focusing, to many, a difficult trick.
On Saxo TV, what to my wondering eyes did appear?
The FOMC chairman, who was full of good cheer.
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His eyes how they twinkled, his dimples like fruit
Masked his true feelings about being given the boot.
His droll little mouth was drawn up like a bow
And the beard of his chin was as grey as the snow.
"Labour markets improved," he said with a grin.
"To keep QE going would be considered a sin.
It's time to start tapering, the Fed knows for a fact."
And US dollar bears were about to get whacked.
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Short Aussie, short kiwi, short yen and the loon,
The big dollar was soaring straight for the moon.
Black turned to red in a sea of red ink,
The move was so quick it was done in a blink.
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And then Benny said, "But the timing's not right,
For long term rates are still as high as a kite."
The dollar gains were erased in the blink of an eye
As the FOMC keeps augmenting the money supply.
Bernanke walked from the podium, to his team gave a whistle.
They went off to dine, he was all out of missiles.
But I heard him exclaim 'ere he walked out of sight,
"Merry Christmas to all and to all a good night."
(with apologies to Clement C. Moore)
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