From what I can tell, the Fed basically announced exactly what the market expected: no more $xx billion of price-insensitive demand for Treasuries and MBS per month; a better economy noticed; and rates will stay low for a considerable time.
So this is how the US Treasury Bond futures market waved farewell to QE:
One would (naively) think the end of considerable, price-insensitive, demand would cause prices to fall. And…no. Must be that the event-risk of what the Fed could have said came to naught, so life is OK again.
On the plus side, bonds seem to be back to the ‘anti-equity’ trade: equity futures are off since the announcement. Better keep those long positions in bonds, then…