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By Staff Reporters
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Even though the Federal Reserve announced its interest rate decision yesterday, Jerome Powell wasn’t the government official investors were most anxious to hear from.
Instead, he was upstaged by Treasury Secretary Janet Yellen, who gave an update on the size of upcoming bond auctions. Although many were concerned about the US selling new debt into a market where interest rates are high and demand for bonds has flagged (pushing yields way up), the market liked what she had to say.
Yellen explained that the government would focus on shorter-term notes rather than longer-term ones, which prompted a rally for 10 and 30 year bonds.
CITE: https://www.r2library.com/Resource
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Filed under: "Ask-an-Advisor", Breaking News, Funding Basics, Investing, Taxation | Tagged: Federal Reserve, FOMC, Janet Yellen, Jerome, Jerome Powell, T bills, T Notes, treasury bonds, US bonds, Yellen |
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