Thursday, September 29, 2016

Looks Like It's Time for Fed to Talk Up Another Rate Hike!

U.S. 10-Year Treasury yield is fading fast as money flees Europe. Looks like it's time for a Fed governor to draw the short straw and go out and talk about how multiple rate hikes are imminent.

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(Updated chart)

Update: Alert the Confusion Brigade. From Marketwatch: 

Philadelphia Fed President Patrick Harker said he backs a December rate increase if the economy continues to grow as expected, while Atlanta Fed President Dennis Lockhart said he expects the Fed to be in a position to raise rates soon.

Fed Gov. Jerome Powell, on the other hand, said the Fed can afford to be patient in gradually raising rates as the economy slowly improves.

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