The one thing that hasn’t really been
talked about in the last six weeks or so is how benign the bond market
has been,” he said. “All this talk about how rates were going to spike
higher, and [how] emerging market concerns were due to higher rates in
the long end, is clearly garbage. There’s no pressure in the long end of
the curve at all
To a great extent, the US bond market will be data driven,
especially by growth and unemployment numbers. The Fed won’t be watching
yields, they’ll be totally focused on employment and inflation data
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