Treasuries Rally as Powell Signals Fed Has Limited Grip on Supply Shocks
TL;DR
US Treasuries rebounded after Powell said the Fed has limited ability to control supply shocks, prompting traders to shift away from bets on further rate hikes and toward the possibility of cuts later this year as Iran-related oil-price pressures and slower growth concerns weigh on inflation.
- US Bond Traders Reverse Course to Bet Again on Fed Cut This Year Bloomberg.com
- Watch Fed Chair Jerome Powell speak live to an economics class at Harvard CNBC
- Americans’ expectations for inflation will shape Fed’s response to Iran war, Powell says CNN
- Treasury Yields Post Big Declines WSJ
- Powell: Fed yet to decide on whether to "look through" war's impact Axios
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