The decline in the price can be explained probably by the fact that Fed is going to have a two-day policy meeting. The markets are atm very nervous about the outcome as the quantitative easing (85 billion in bonds buying) program can be restrained. But Fed already has tried to restrain this program in the past with no luck, as the market reacted very sharply to the decision. Let's not forget that the economy is still very weak and policymakers seem not to dare taking decisions that will disrupt the market and lead to fire sales. As a matter of fact a bubble is formed everywhere but none is daring to take the ultimate decision, at least not this year.

So, a stop in bond buying cannot be expected only some statements about possible lowering in the future. After the meeting, the markets will rally one last time for this year, better known as the Christmas-rally.

Thanks for your comments