(Bloomberg) — Treasury traders are looking for Federal Reserve Chair Jerome Powell to provide some calm after a volatile few sessions that have sent yields on what one bank described as a “roller-coaster ride.”
Ten-year yields have swung in a 25-basis-point range in the past three sessions, having initially been thrown higher by the Fed’s comments that brought forward bets on interest-rate hikes. Monday’s trading encapsulated that volatility, with yields initially dropping to 1.35% before climbing to 1.50% by the session close — the largest gap since February. The 10-year rate has eased back to 1.485% in U.S. trading Tuesday
Powell is set to testify to the U.S. Congress on the pandemic response and the economy. In written remarks prepared for the testimony, he said that inflation should move back toward the U.S. central bank’s 2% target once supply imbalances resolve. The key for traders will be whether he can rein in some of the current turbulence.
The face of calm.
- America’s Future is Not So Bleak as You May Be Inclined to Believe
- The Great Currency Crisis of Our Lifetimes Is Starting Now
- From October 1, German streets will be patrolled by the military to prevent riots
- The Truth About the Criminal Sabotage of the Nordstream 1 and 2 Pipelines
- Fired up and blasting the NWO: Italy’s new Prime Minister Giorgia Meloni sums it up perfectly. No wonder the elites and establishment don’t want her to succeed.
- Drunk driving could soon be impossible thanks to new, mandated intrusive computer chips in cars
- The USDA Wants You To Register Your Garden
- A Major Country is Imploding…
- Alleged Neo-Nazi Kills 15 Including 11 Children in School Shooting
- Credit Crunch Has Arrived To The UK – No One Wants To Invest In A Collapsing Economy!