The Fed is considering buying bonds but sterilizing the proceeds, as the ECB does with the SMP. It would be an attempt to further cap long-term yields while damping down inflation concerns. Mr Dollar doesn’t like the sound of any further QE. Mr. Stock Market loves it! Gold loves it as well, though the new program would not increase the overall money supply. Given the source (the WSJ), the market will assume this is a purposeful leak from the Fed, whether or not it is or not…. (full story)