Markets & Finance

Bonds Lower Amid Minehan, FOMC Concerns

From Standard & Poor's Equity Research

MARKETSCOPE After a strong start, the 10-year Treasury is down 08/32 to 100-18/32 for yield of 4.811%, the 30-year bond is off 15/32 to 93-02/32 for yield of 4.954% after Boston Fed President Minehan said the Fed needed to be inflation vigilant... Action Economics also reports yields are higher because of a Market News piece that said the Fed was surprised at reaction to the FOMC minutes... the highly regarded Market News Fedwatcher said "it is felt at the Fed that many financial market participants misinterpreted the FOMC minutes more dovish than was intended".... the article says that while Richmond Fed President Lacker was the only dissenter in favor of tightening, others had misgivings about a pause and the Fed was dismayed that these were not recognized by the market.

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