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The bond market has turned unusually volatile, and analysts say the turbulence is not temporary.
New Federal Reserve Chair Kevin Warsh appears to welcome bond markets taking the lead on financial conditions — a posture that could allow him to hold interest rates steady rather than hike them himself.
What It Means for the Fed to Let Bond Markets "Lead" When bond investors sell, yields rise.
Rising yields tighten borrowing costs across the economy — mortgages, corporate debt, consumer credit — without the Fed moving its policy rate by a single basis point.
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