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September 19, 2013 AT 3:43 PM
In the minutes before a statement from the U.S. Federal Reserve, traders knew what to expect. Or so they thought. Then came the surprise. "No taper! No taper!" shouted a government bond trader on Schroders trading desk in New York, seconds after the Fed issued its statement, said Wes Sparks, head of U.S. fixed income at the firm.