Bond investors warn of deepening Treasury sell-off as Fed's Warsh stays silent

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1. 1Bond investors including Brandywine and Wellington warned that the risk of a deeper Treasury sell-off is growing as Fed Chair Kevin Warsh has not outlined a policy response.
2. 2After last week's rate freeze, no plan to address inflation was presented; the 30-year Treasury yield hit a 19-year high, and the market sees roughly a 70% probability of a September hike.
3. 3Long-end selling has steepened the yield curve, seen as a signal of eroding policy credibility, and the New York Times reported that a review of scaling back regular policy meetings is underway.

Source Bloomberg · View original ↗

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