Markets Force the Fed’s Hand as Long-Term Yields Rally
TL;DR Summary
Even with the Fed keeping the policy rate at 3.5%–3.75%, bond investors have pushed longer-term yields higher, with the 30-year around 5.27% and the 10-year higher as Warsh argues markets should do more of the tightening; this market-driven pressure tightens financial conditions and could slow inflation, at the cost of higher borrowing costs for households and businesses.
- Bond vigilantes are doing the Fed’s dirty work: Chart of the Day Yahoo Finance
- Bond Selloff Picks Up New Momentum wsj.com
- US Treasury yield curve 'twist' reflects view Fed may not hike again Reuters
- Chart of the Week: Warsh spooks long bonds Financial Times
- Bond Investors’ Inflation Angst Rises on Fed’s Lack of Guidance The New York Times
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