Bond traders are testing Kevin Warsh: The Fed chair will heed—but not be ruled by—them, says an economist who spent years sitting next to him
Treasury yields are on the march with some analysts suggesting Fed chairman Kevin Warsh is being “tested” by the bond market. But those who know the boomerang central banker well told Fortune that while Warsh will note market “teething” problems, a reaction shouldn’t be expected.Yields have climbed higher as softer inflation and labor data have dampened the picture for Fed rate hikes, which the market has already priced in.
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Treasury yields are on the march with some analysts suggesting Fed chairman Kevin Warsh is being “tested” by the bond market. But those who know the boomerang central banker well told Fortune that while Warsh will note market “teething” problems, a reaction shouldn’t be expected.Yields have climbed higher as softer inflation and labor data have dampened the picture for Fed rate hikes, which the market has already priced in. Thirty-year Treasuries sit near 5.3%, heights which haven’t been seen since 2007. The 20-year is around the same mark.Yields have been elevated since the conclusion of Warsh’s latest press conference following the meeting of the Federal Open Market Committee.
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- What's the story?
- Treasury yields are on the march with some analysts suggesting Fed chairman Kevin Warsh is being “tested” by the bond market. But those who know the boomerang central banker well told Fortune that while Warsh will note market “teething” problems, a reaction shouldn’t be expected.Yields have climbed higher as softer inflation and labor data have dampened the picture for Fed rate hikes, which the market has already priced in.
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- 1 outlet, average source rating 6.0/10.
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Bond traders are testing Kevin Warsh: The Fed chair will heed—but not be ruled by—them, says an economist who spent years sitting next to him
Sources1TypeCoverageFortune