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Short-Term Treasury Yields Rise as Warsh Targets Inflation in Jackson Hole Speech
U.S. 2-year Treasury yields moved sharply higher after Federal Reserve Chairman Kevin Warsh signaled in a Jackson Hole speech that the central bank may not be done fighting inflation. Longer-term U.S. bond yields posted more modest gains.
“There is now a bit more of a firmer anchor in terms of the long end of the yield curve, because part of the rise in long term bond yields was reflective of questions around Fed credibility,” EY-Parthenon’s chief economist Gregory Daco said following Warsh’s comments.
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