Dovish Reaction

Treść źródłowa

A politicized Fed is unlikely to lead to higher yields because longer dated yields are becoming more connected to the expected path of Fed policy. Even without a new Chair, the Fed's party line has quietly shifted towards that of a productivity boom in line with the Administration. Powell's emphasis on employment and dismissal of inflation as transitory opens the door to deep cuts next year. Regulatory changes are tightening arbitrage relationships between Treasuries and […] Click here to Subscribe! The post Dovish Reaction appeared first on Joseph Wang.