The End of QE2?

Investment News has a piece quoting Dave Paquet, president of MPI Investment Management Inc., about what he sees as the Fed starting to reverse its direction.  Pacquet notes a March 18 announcement of the sale of a $142 million portfolio of mortgage-backed securities.  He also points to a March 23 announcement of a "a new, 'gradually expanding' round of small reverse-repurchase transactions." This in advance of the June expiration of the second round of quantitative easing.  All of these events will have the effect of taking currency out of circulation, putting upward pressure on interest rates. Pay attention while Ben Barnanke addresses the press corps after the Fed policy meetings next week.  Get the Mortgage refi completed and hold off on any major bond allocations for about sixty days.