A panicking Fed is just what the bond market needs, says Bank of America’s chief strategist
A panicking Fed is just what the bond market needs, says Bank of America’s chief strategist
A rate hike may be required to calm the U.S. bond market
Bond markets are struggling. The real yield on U.S. 30-year Treasury bonds is 3%, the highest since November 2008 and the depths of the global financial crisis. For markets to focus on earnings growth positives, rather than the negatives of tighter financial conditions, new Federal Reserve Chairman Kevin Warsh needs to hike.
But will he?
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