DOES THE MARKET REALLY BELIEVE THE FED WILL CUT OVER 5 TIMES THIS YEAR?
The 'tourist explains why this stat is misleading
It must be difficult being Jerome Powell. In October, the bond market was in free-fall. 30-year Treasury yields had spiked from 4% to 5.25%. Worries about “term premium” and “America’s ability to finance itself” dominated financial news headlines.