Lack of Clarity on Fed Policy Pulls Treasury Market in Two Directions
Dow Jones08-25 18:51
1051 GMT - The lack of clear direction on Federal Reserve policy has pulled the U.S. Treasury market in two directions at once, TwentyFour Asset Management's David Norris says in a note. "Inflation concerns are weighing on the long end, while uncertainty about the Fed's willingness to act is keeping short-term interest rates relatively stable," the portfolio manager says. At the Federal Reserve Bank of Kansas City's Jackson Hole symposium later this week, Fed Chairman Kevin Warsh is likely to provide an update on his five working groups, Norris says. "Above all, however, Warsh must set a clear tone and clarify the Fed's monetary policy objectives."
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